The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-15
ADJUSTMENT OF VALUES
ASSESSOR JEFFERSON MAY IN
CREASE PROPERTY ASSESSMENTS.
Cognixance VIII Be Taken OF Com
parative Appreciation I'm Value
Work VIII Begin April L.
tate in Indiananolis xiIl be a more

Real estate in indianapolis will be a more
expensive investment during the coming
year than formerly. An appraisement of
property to be made under the direction OF
Township Assessor Michael Jefferson for
sixty days, beginning April /, Will raise the
appraisement of much of the property of
the city. particularly in the north and east
parts. The assessor with his force of clerks
will make the new appraisements accord
ing to relative values in the assessors
Office. and because Of the present apparent
injustice in the appraisement of property
in various parts of the city many changes
will be made. An attempt will be made to
equalize the appraisements that the
taxes paid TO the county treasurer on real
estate in the future will be more fairly di-
vided. Much South Side property is the
present time taxed on an appraisement
which is ridiculous 1t is thought by many
people. Property owners in that section
of the city complain that their property has
long been compelled to stand at an ap-
praisement that far exceeds the amount Of
money which could be secured from the
property at forced sale.
In the north part of the city, the busi-
ness district and East End the appraise-
ments have not been increased with the in
creasing values of the real-estate holdings.
This is shown in the transfers of real estate
which are recorded daily. The sale prices
of property often are 100 per cent. greater
than the appraisement of the real estate
as shown on the plat books in the assessor s
Office. Michael Jefferson, township assess
or, will begin the appraisement officially on
April ], although the city has been gone
over practically by him in the past three
months He is conversant with values in
all parts of the city, and by knowledge
gained in the office he now nils knows a aEo
city would bring in fair sale. 1t is
thought he will reduce appralsements In
several parts of the city that nave shown
appraised wrong theoretically. Business
property in the heart of the city that has
ment will be appraised at something near
its proper value. as will be much of the
property on the through north streets.
PERSONAL PROPERTY.
The appraisement of personal property
will be made by one hundred deputy as
SCISSORS TO be sworn in on April I, and de-
tailed to their districts on that day. The
deputy assessors will, as has been their
custom. leave blanks for taxpayers. and
after an inspection of the property listed
make the appraisement. The twenty dep
uties whose duty it will be to appraise the
improvements on real estate will begin
their work on April l. general appraise-
ment OF improvements is made every foul
years. and 1t falls due this year. These
appraisers will work In pairs and go around
the city in horses and wagons. The iufor'
the assessor In making the total appraise,
ment on property In the city.
There are many new large buildings In
the downtown district that will be as
spSSpd CidyDOO
Hotel property Is one of the largest Of
these, and the assessment of 1T will be made
and alterations that have been made or
downtown property in the last four years
will be viewed by the appraisers. These
new buildings ii is thought Will add much
to the tax duplicate.
In the out-townships a similar appraise-
ment viii be made. Marion Eaton, county
assessor, has called meeting of the town
ship assessors for March 25 and will in
struct them in their duties 1t is the belief
OF the majority of the assessors that thu
appraisement Of farm land in Marion coun
ty has been much too low in many local
tiles, as has been shown in the sales mad
during the past year. A conference o
manner of instructing the assessors as t,
the way to make the appraisement in thei
townships.
transfers were recorded with Recorde
Shank. The transfers represented mon
ey value of real estate sold of s249, 299 A.
Saturday there were several large sales
the largest of them being that of tn
Brookside North addition by Isaac M
Ruffin to the Central Trust Company 70
100000. There are about four hundred lot
in the plot sold, and these will be offere.
on the rea1-estate market during the sprin,
and summer. Fred Cline yesterday sol,
to Wilhelm G. Schneider property value,
at 500
Thomas r. Sullivan has bought from
Chauncey L. Turner the property at 132 an,
1S4 North Delaware street brick build
ing occupied by the Door of Hope TO
Sls,500. Mr.. Sullivan will build a modern
business building on the lot in tie nea
future.
During the last week, for the second tim
during the present year, the releases o
mortgages exceeded the mortgages place,
on real estate in the county. Seventy-tw
mortgages Of value OF $40. 42S.SS were re
corded, while ninety-seven were released
The releases amounted to SIS. 49l. Is In money