Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-18

chased today for less than $1,000 Der
acre. and We should have no difficulty. on
ing that the total valuation OF the Dis
trict should be one billion or q billion and
q quarter, just as logically.
Regarded as Unreliable.
There are a number Of examples In
the report and testimony where values
are expressed which, when compared to
the actual bona flde considerations given
for the property. make them unreliable
for consideration. Take, for example,
page 424 of the report, where the value
is given for the Stinemetz corner at 18th
and streets northwest as $35O.OOO The
bona f1de consideration for this property
was $4,000 cash and a So, 600 equity in
7th street property. The owner stated
that he would have accepted $215. 900 cash
for the property. Another concrete case
will be all sufficient to illustrate how
possibly the committee reached its total
valuation conclusion. Page 427 of testi-
mony case is cited at the northeast
corner Of 18th street and Pennsylvania
avenue. where the committee expert
reaches value of $4,000 as the value
OF this property and the adjoining prop
erty. 400 18th street, In 1909
AS to the House of Representatives
site. the only fact Of Importance 1 re-
call in connection with this property Is
that certain citizen. well and favora-
ply known in the community. appeared
before the board Of equalization and re-
view and appealed on the value Of his
property which was subsequently in
cluded In this site. He stated that land
was not worth more than $1.60 per foot
and that price had never been offered or
received for any Of 1t. Subsequently, he
appeared before the commission and tes-
titled Il don't recall what evidence he ad-
duced), but after deducting a liberal
amount for the Improvements from the
total award Of the commission, he must
have received in the neighborhood of 81
foot for his land.
AS to the Senate building site,
know the fact of one person who owned
property which was taken and included
in this site. and he considered his prop
erty worth about $6O00. and would have
been glad to take that amount for it..
notwithstanding this fact which is we'll
authenticated. the commission awarded
him S12.S23 for his property So if the
committee COZ reached it's total valuation Of
the District on evidence such as the fore
going. 1t Is easily understood why 1t
reached $744.OOOOO0. but a little surpris-
Ing why they were SO conservative
Based on Income at Per Cent.
''Mr. Browne gets some Of his valua-
tons by capitalizing the stated income
at per cent
Regarding the charge of the George
committee that the increased assessments
fell almost entirely upon the 10000
small homes of the District the report
quotes as follows from a statement OBJ
tanned from the assessors office:
Gas to the $12.OO0,OOO increase on the
10000 small homes referred to in re-
port. the facts developed from the
records of the assessors Office show as
follows: Total increase of improvements
Of 1912 over 1911 assessments is $751;
232, 4SO, from which deduct the amount
of new buildings, and repairs, IS, 1O2.66O,
leaving $9,53O,S $40 as the total Increase OH
all structures. large and small; very
large amount Of. which must necessarily
have been on large buildings. These
buildings were increased because the as
SCISSORS thought they were valued too low
before and therefore increased them to
conform to the requirements of the law,
viz, two thirds of the true value. and not
because the assessors thought they had
increased In value as the report seems
to imply The number of buildings con-
tanned in section I. and number of small
houses in said section, is not known and
would take much time and labor to aScer-
tain
THAT is. there were S9,o3O.s20 as the
total increase on all old structures, large
and small, some of which must neces-
sarily have been on large buildings, and