The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-09-25
Subject for Serious Con-
Sideration in the
District.
HELP ONLY IN CONGRESS
Real Estate Market Still
Lacks Buoyancy-Opera-
tons Few.

One or two of the leading local real
estate firms have taken exception to the
statement that the real estate market
has been for some weeks, and still is.
more than lifeless They contend that
with them business goes right along.
and that as far as they are concerned.
there is no cessation Of activity. In re-
ply TO a question I'm what measure this
activity manifested itself a member of
one Of these firms declared that in the
week past not less than seven houses
had been sold through his office II
anything had been needed 20 confirm the
assertion OF a dull real estate market
it was This declaration. for in a busy
season this particular firm would be
more likely to sell seventy than seven
houses in the period Of six days. Moth
ing would more delight the veracious
chronicler of real estate news than to
be able 10 report from information OBJ
tanned from the men in the business
that the real estate market is booming.
but what is he 10 do when nearly every
broker to whom he appeals in his daily
round assures him that there is nothing
doing. and when the daily record Of
transfers stamps this as a most truth
full utterance?
Hoping for Better Things.
What the great majority Of real es-
tate dealers say is: 1--WE hope for bet
ter things" They look forward to some
impetus that viii bring them customers
for houses as well as for unimproved
property. They trust that the fan sea
son now Opening viii prove more lively
than they have had cause thus far to
anticipate. One reason for the faith
that is in them is found in the fact that
the price Of real estate. both improved
aid unimproved, keeps up well. No
disposition is evinCed on the part of the
holders OF property. who are not under
pressure, TO part with their holdings at
other than normal prices. They know
that the intrinsic value Of their property
is not diminished one iota through a
temporarily dun market Washington
remains whist It has been for the last
thirty year,. a most inviting place for
the speculative investor in real estate.
and no less for the man who merely
seeks home, modest, or pretentious.
Danger From Tax Exemption.
a prominent real estate owner and
operator, in the course of conversation
the other day. called attention 20 the
constantly increasing exemption OF
property from taxation. He declared
that It constituted a serious menace to
the taxpayers Of the District
The more property is exempted" he
said, the greater is the burden that is
laid upon TIE unexempted property. for
the taxes on this latter must supply the
deficiency crea ed by the withdrawal Of
other property from the tax list 1 90
not believe our people realize the danger
that threatens them from this direction
The untaxable property IN and around
Washington. not counting that owned
by the General Government represents
a sum OF several millions. As a matter
OF fact, the Government, In assuming
one-hah Of the expenses OF tho District
is 70 that extent a taxpayer.
An Enormous Aggregate.
But just look at all the property own
ca and controlled by private corpora
tons or individuals from vhich not p
cent OF tax Is derived. There are all the
churches and schools. hospitals col
leges. universities. charitable institu-
lions and some others that are not
charitable, but nevertheless have been
thought worthy by our lawmakers 10
enjoy exemption from taxation. All
these make up a tremendous aggregate
IL is bad enough to have 30 much al
ready. but the situation becomes more
dismal by the fact that there IS hardly
a session Of Congress at which the
field OF exemption IS not enlarged.
If this is continued indefinitely one
OF two things must happen-either the
rate OF taxation must be Increased on
the assessment Of property must be-
raised. We are facing the problem OF
gradually growing expenditures for ON
rfr.fr,
ing with tie growth OF the city and tn,
Increase Of pOpulation-with gradually
diminishing sources Of revenue. unles.
halt Is called On this matter OF ex
empting property from taxation. Ther,
is no subject Of local municipal ecOnom
les that calls for more earnest consid
Grafton from all our taxpayers and per
haps even more from the Commissioner
and the Ia wnalsins power"