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

not $4,000. O0O as stated by Mr.. Browne
and the committee.
Business Section.
On the subject Of business section val
uations the committee also quotes from
the assessors statement:
"In the business section Of the city.
between 9th and 18th streets, Pennsyl-
vania avenue and I street, there have
been 121 sales within few years pre-
ceding and during the year in which we
were engaged in making the last triennial
assessment, the considerations Of which
have all been verified. The total consid-
erations aggregate SS,2S7.123. The valua-
ton Of this identical property by the as
SCISSORS Is $S,641. 40, which Is assessed at
two-thirds of that amount, which Is on
basis of 1854. 347. in excess OF the true
consideration. or about 1-3 per cent IN
excess. During the last year and up to
the last moment OF completing the last
triennial assessment there were forty-nine
bona fide sales. the considerations being
verified. aggregating $3O19.134. This
property was valued by the assessors az
50. 800, $50. and assessed at two-thirds OF
that amount. the consideration being in
excess of the assessors appraisement
S12o. 2o2. or about 1-3 per cent low.
Since the assessment has been closed
there have been fifty-six sales. the con-
siderations of which have been verified az
gregating So AL and assessed at two
thirds Of 3276.OD1-S36S. 40 less than the
consideration, or about 10 per cent low.
In this section and may in a measure ex-
plain why the assessment appears low
when compared to sales during the last
year Of the assessment"
have just concluded compilation
Of figures taken from all sales made dur
ing the years 1909 and 1910. the considera-
tons Of which have all been verified.
These sales were made during the time
we were engaged in making the trienniai
assessment and are included in the busi-
ness section between 9th. X. 9th and
Pennsylvania avenue northwest. There
were thirty-five certified sales. the true
considerations aggregating $S31.1d3 inns
identical property was appraised by the
assessors at $S4O.621. and assessed at two
thirds of that sum, or in other words, the
assessors appraisement was less than
one-half of one per cent. or about Two
fifths of one per cent, in excess OF the
true consideration. On the 1909 sales, ag-
gregating $302, 625. We were II 10 per
cent in excess of consideration. On the
1910 sales. aggregating S534.55O we were
81 per cent under true consideration.
Advances Noted.
"'To show how considerations are ad-
vancing since the assessment was con-
cluded. which cannot be corrected under
the law, 1 will mention the following: In
year 1911, - safes, CONSIDERATION Soo-,"oc'
or 2O1s per cent in excess Of assessment;
in year 1912. IL sales, consideration $'l9,-
400, or 3O% per cent in excess Of assess
ment.
Should this percentage of increase IN
consideration continue to the close OF the
triennial period. viz, 1914. the assessment
basis. when compared with the Increased
consideration. will appear very low and
give rise to what would casually appear
to be an unfair and unjust discrimination
in favor of the more valuable property as
against the smaller property, but 1T must
be apparent to any one who Will take the
trouble to investigate the subject that
under our system of three-year term for
assessments changes cannot be made In
the assessments to meet the changed and
changing conditions Of real estate values.
The foregoing includes all the sales
in the section referred to which we have
been able overly, which is very nearly
all of them
''Your committee submits that these
data furnished by the assessors office,
and which were at the command Of the
congressional committee. dsprove and
annul the testimony of Mr.. Browne and
the conclusions of the committee based on
such testimony
The committee cites recent sales prices
to show that the assessments placed on
small homes have not been excessive and
proceeds to point out discrepancies in the