Omaha daily bee., 1907-01-20
Heal Estate Of the s tate to Be Reassesssd
During Next Year.
MEANS TWENTY MILLIONS MORE IN TOTALS
Ibis Would Add Materially to InoOm.
Based on Present Valuations
REGISTERS OF DEEDS DISREGARD LAW
ran to Make Return of the RecorS
OF Mortgages ReIeased-Committes
Opposes simpIiacation of
Legal Procedure.


Pron SIAN Correspondent
LdNCoLN, Jan. Especial. )-MemberS
VI the legislature are beginning to awake
to the fact that in the arguments for ana
against appropriations by levy. instead q
| Dy specific amounts in dollars and cents
the half has not yet been told For in
! stance In making their estimates OF what
| l-mil levy will produce and what an
| elghth OF a mill levy will bring in. thoHa
VINO stand sponsor for this way OF doing
business have not informed the legislators
that in the year 1908 all of the real estate
In the state will be reassessed. probabIv
increasing the grand assessment roll on
this class OF property alone from $50 600 OOa
TO SSOOOOOO. Under the revenue law real
estate must be revalued every four years,
ahd' as the first assessment under the
present law was made in 1904. the next as
sessment will be made in 1905
The Board OF Regents of the state uni-
versity in its estimate OF receipts and ex-
penditures filed with the state auditor
claim the assessment roll for 1907 will be
$J2l,OOOOOO, an Increase from SS1sOSc31l. the
assessment last year For the year 1903
the Board OF Regents estimated the assess
ment at SS29,OOOoOO an increase of sOoOOoo.
Using their figures the university would
receive from the l-mill levy alone for the
biennium the sum of $65OOOO But a study
OF the subject shows this estimate to he
absurd on the face of It. BY reports from
county assessors and from other sources
1t has been shown that in some sections
OF the state real estate will be Increased
In value fully $50 per cent, and especially
will the increase be great in the western
portions of the state. which have enjoyed
such prosperity during the last four years
IL is estimated conservatively by one who
keeps in close touch with the valuation
of the state that the real estate values
alone will be increased fully $2o.OO0OOO and
in all probability sSOOO0,OoO. The increase
on real estate alone would boost the total
receipts OF the university from $4,000 to
$4,000 for the year 1908 over 1907, figuring
only on the 1-mill levy.
What is true of the i mill levy for the
State university is also true of the pro.
posed one-eighth OF a mill levy for the
state fair board This board has presented
to the Legislature an estimate OF receipts
based on the 1906 state valuation of Ss18L-
Oo0O00 making a total income of about
$4,000 for the next year. Based on tho
estimated increase of real estate values
alone during the year 1908, the state fair
board would get for that year at least
s42, 800 on its levy OF one-eighth OF a mill,
and each succeeding year the amount would
be increased.
other Sources of Increase.
In the figures quoted, which are being
seriously considered by some OF the legis-
lators, no mention has been made of the
probable increase Of the value of railroad
property. Based on their earning powers
in Nebraska, It is generally conceded that
the railroads in this state are outrageously
undervalued and there is a general Inn
preston that the present State Board Of
million dollars. II such is the case the
receipts from the l mill levy and the pro-
posed one-eighth of a mill levy would be
increased Just that much. AS a matter Of
fact, said one member OF the legislature
there is way to tell accurately what
will be produced by levy while II the
appropriations are made I'm dollars and
cents everyone in the state can know ex.
actly how much money is set apart for
certain purposes.
At this time the total assessed valuation
of all real estate. including lots, is $780,
OS4.SO5 An increase of only ~ per cent
on this class OF property would add to the
grand assessment roll over so, 600 600, and
from reports received by the state labor
bureau from county assessors there seems
to be little doubt the increase will be
greatly in excess of 12 per cent over the
present assessment The following figures
show the increase in land values during
the last five years, reported to the
bureau Of labor by the county assessors
during the last few weeks. The greater
portion Of this increase, the county as
SCISSORS say, has occurred during the last
two years The table merely gives an In
dication Of how real estate values will BE-
boosted by the county assessors in 1908. and
Of the increase OF funds derived by levies
over estimates made by those who wana
to get money by levy instead of direct ap-
preparation. The increase In per cent by
counties is as follows: