The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-03-28
An Era Of Good Feeling in the Real Estate Mark
wholesale districts, what reason is there
why these tax assessments should not be
raised instead Of abating those already
jooraa

ASeIooAA SAASAo
why these tax assessments should not be
raised instead Of abating those already
increased?
The Rate the Main Thing.
''One thing more not to be lost sight
of in considering the general interests OF
our city as connected with taxation 1t
is not lower assessed valuation that we
want. but it is a lower rate. Uniformity,
of course must be sought. No distinction
should be made where like conditions pre-
vail. 1t would be ranifestly unfair to
raise the assessed valuation OF dwellings
of the class which have not increased IN
value a dollar for the last three years,
unless it is for the purpose of CARRYING
out the principal above suggested What
we need is an assessor who understands
conditions and who can distinguish the
points where values have materially
changed and consequently where assess
ments should be equalized and one VINO,
will do his duty without fear or favor.
1T is not lower assessed valuation, as
we have said above. which we need, but
a uniformly low rate. 1t is a difficult
matter to sell a piece of property for
$50. 900 whose valuation is only $4,000
and it's rate of taxation 21s per cent 1t
would be an entirely different problem to
sell the same property assessed at $4,000
with the rate Of taxation 1 per cent
Rental Values Low.
Zone thing more, at the last meeting of
the Real Estate Board, the matter Of rents
was thoroughly discussed, and 1t was gen
orally admitted by all present that the
rental value of properties In Minneapolis
are far below the rentals for similar prop,
critics in other cities Of the same size, and
as the assessed valuation and other fixed
charges on properties increase, it will be
necessary for the property owners to in
crease their rents accordingly. We do
not think that there is an argument for
retrenchment In the fact that these condl-
lions prevail.
The fact suggested by Mr.. Harris that
ST. Paul citizens have worked together
with the assessor and that they have OBJ
tanned a uniform assessment for the diff
ferent parts Of the city, should be lesson
TO us, and business men should cooperate
with the city authorities in every way
possible, giving them unbiased inforna-
ton regarding conditions in the various
localities, thus compelling uniformity In
assessments. which would work no injury
to any one. This is a matter which, we
are aware. should be handled carefully,
but if justice were done and assessments
made with more care, the burden would
be justly equalized and no undue stress
would be brought upon a single Individual
LAS to general conditions In the real
estate market, we have nothing new at
this juncture to offer, but we possess the
greatest confidence that favorable condi-
lions will prevail. This opinion seems to
be shared by property owners, especially
in the business districts Of the city, as one
who goes out to buy realty will soon ascer-
tain. We wish conditions were better in
the residence districts. but this will have
to be worked out by the real estate board.
and we believe that when more of the
broken-down properties are unloaded we
shall have revulsion Of feeling and a COR
responding enhancement