Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-15

ing both ground and improvements. The
owners. as a rule. will not disclose their
estimate of the value of their property
nor will they give any information as to
its rental value. There have been two
or three sales within the past two years.
but the exact consideration has been
guarded. The square on the 10th street and
Little b. street sides. at least. is car
ing, in part. for the overflow OF COM
mission houses from the squares on Loui-
siana avenue between 9th and 10th streets
It's value is also more or less affected by
the sales of the squares on the west. and
the prices paid for them by the govern
ment for the Post Office Department and
its uses.
Choice Piece-Choice Price.
The owner Of what is perhaps the
choicest piece Of property in the square
from business standpoint wants $45,O 900
for it. It contains 2,766 square feet, as
sessed at $11.577. or about $4.1S1z foot
for the ground and So. 500 for the improve
ments. or about $5.45 foot for both.
Its real value, according to the assess
ment basis. is $17,365.5O. or about 1924
a foot. for the ground. and $22. $3.50. or
about $S14 a foot. for both ground and
improvements. The owners asking price
is at the rate of $16.27 foot It is said
that the rental Of this property equals 5
per cent interest annually on $O.OOO
Within about year and half a piece
of property was sold in this square Tor
feet it contains. at $4624zabout 1925 a
foot-and for both ground and improve
ments at 1922 or about $3.O3 a foot.
It is reported that an assessment made
for business purposes by prominent
financial institution of the city fixed the
or about $S.76 foot. for both ground and
improvements. II the price alleged to
have been paid for it Is correct the
property cost the owner about $9.O5 a
foot. He now estimates 1t to be worth
$4,000, or about $14.6O foot, it is said.
and claims that the rental derived from IT
is equivalent to 5 per cent income on
$4,000.
Another sale Is reported within two
years Of 1854 feet of ground. assessed,
with the improvements. at $15.n6 or d.
about $5.60h foot, and the price paid Is
said to have been $40. 600. or about $14.27
a foot. although, according to the two
thirds assessment basis of estimating. the
actual worth Of the property Is only
$23,574, OF about $s.41 foot. The owner
says it is not for sale and declines to set
a value on 1t.
The owner of a lot containing 2.O19 feet
of ground, assessed for both land and i'm
provements at $S,218. or about 1895
foot. Is reported to have refused an oner
of $4,000. or about 1892 a foot, for it.
within the past year. The remaining one
Of the two owners Of the square who were
willing to set a value upon their property
estimates the 2.O65 square feet owned by
him. with its improvements. both as
sessed at 1924, or about $3.42 foot, to
be worth $25.O2O. or SIP foot. although
its real value, if estimated on the as
sessment basis, is but $1O.S51, or about
$500 foot, for both ground and improve
ments. It's rental is equivalent to an an
nual investment of $4,000 at per cent.
Nothing short of a careful formal ap-
praisement of the square can, Of course.
determine it's actual worth. These figures
show that the assessment values Of the
land run from about 81 foot to about
S., while the prices paid and those de-
manded by owners run from $12 to more
than SIG foot An ingenious advocate
of the Hepburn bill. referring to this fact.
suggests that the government has all
ready paid largely for the property in
the twenty six squares in the form of re-
duced taxation looking to the ultimate
purchase of the property.
Tax Assessors Records.
The following table shows the lot num-
bers the number Of feet in each lot and
the assessed value Of both ground and
Improvements in squares $40 and 3vJ: