Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-16


Owners OF twenty-five lots whose area
aggregates 1928 square feet. assessed at
500 Oo7. with Improvements assessed at
$4,000. making about $3.50 an average
foot for both. have set a value upon their
respective properties which amounts in
the aggregate to $541. 900. or at the rate
of about $l1.21k an average foot. The
entire square at this rate would cost about
81 o.. sos. This sum. 1t is claimed by
those. who advocate the purchase OF the
square for governmental purposes. is very
largely in excess Of what the property
can actually be bought for at private
sale.
An analysis of this demand Will be
found interesting. For instance. three
lots which are owned by the same per-
son. containing 6.046 square feet Of
at the rate Of 1925 foot. and 2.6ol feet
at the rate Of 81 a foot. making an aver
age Of about $2.12 a foot for the ground.
are valued at $4,000. or at the rate OF
about $1o75 foot. although the improve
ments are assessed at $4,000 and the
real value of both ground and improve
ments. estimated upon the assessment
basis. would be but $40.429.5O, or about
$3.50 a foot.
Another owner whose holdings contain
fraction less than $3.50 a foot. for the
ground. and $685. or about 1915 a foot
for both ground and improvements. wants
$4,000. or a fraction less than $l4.90
foot for his property. which is used partly
for business purposes. He claims that
his rentals equal an annual income of 5
per cent on $4,000 now. The real value
OF his property, IL it was assessed at two
thirds thereof. as has generally been as
sumed In calculating values Of the remain
is $1S.s47.JO. or about 1914 a foot. for
the ground. and SIS. 2N.50. or about 1867
foot for both ground and improvements.
A sale of a house and lot in this square
within the past two years brought the
seller $1,000 for lot containing 1872
square feet. assessed at $3.50. or 1915
foot, for the ground, and 81, $50. or
1925 foot. for both ground and i'm
provements. making its true value. upon
the assessment basis. 1895. or $3.75 foot.
a foot, for both ground and improve
ments. The present owner. II is said.
wants 5000. or at the rate Of about
IS foot. for the property. Another sale
is reported Of 2O1O feet assessed at ST. 43.
or about $3.50 a foot for the ground. and
81 .S43. or about $3.50 a foot, counting
both ground and improvements. The
price alleged to have been paid is $4,000,
or about $17.n foot. The present owner
wants $4,000. or at the rate Of about
used for saloon purposes. and it Is said
the value is made with reference to that
fact. the goodwill being included with
the intrinsic value Of the property.
A third sale. of very recent date. it
is said, Brought $4,000. or at the rate
Of about S a foot, for piece Of prop
erty located near a valuable business
corner in the square, which contains 2, $50
square feet. assessed at $3.50 foot for
the ground. and s9.625. or about 1898
foot. for both ground and improvements.
The real value Of the ground. estimated
at the assessment theory. Is $9.1S7.50. or
about 1918 a foot. and Of both ground
and improvements. $14. 1880, or about
$3.50 a foot. yet the price paid for the
property is said to have covered quite
a quantity OF furniture In addition to
the property.
Tax Assessors Figures.
The following table from the tax asses
sor's records shows the lot numbers.
tie square feet In each lot and the
assessed value of both ground and i'm