The Washington times., 1913-08-04
ASSESSOR HIT
AS SPECULATOR
Congressman George AssaiIs
Richards for Investments
in, Real Estate.
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in land at the corner Of Twentieth ane
Beimort?"
Yes. we have land on our hands W,
would ike to get rid Off,
Mr.. Richards thought he could gel
his money back.
In the meanwhile" said Mr.. George
the chief assessor of the District
and two of his assistants have a spec.
ulation on their hands and reduced
the assessments on their own prop
erty."
Mr.. Richards said he had previously
sale price Of the property was taken
into consideration when the reduction
was made from a former assessment
But you did not reduce the assess.
ments on the other property in the
same squareT'
"No. We went by the evidence and
! assessed our property that way. The
property had been offered on that basis
for sale
$4,000 Fair Price.
When you and your associates paid
$4,000 for this plot did you regard 1t as
a fair price, or were you getting In on
the ground floor. SO to speak?"
! 1T was a fair price"
1t looks like a pure speculation to
me-" said Mr.. George 70
Mr.. Richards, answering other ques-
tons. said he regarded the property as
now worth about Ss.0O0.
$50 u has appreciated and your
speculation has made good?'' interposec
mo. we have paid interest o. the
. money. The interest on $4,000, yot
know. amounts to quite a sum each
year. and II you will add II, 'he
amount will be around $500
so you are coming out riat? com
mented Mr.. George.
Congressman George asked Mr.. Rich
ards II he was unaware OF the COM
plants OF many owners OF small homes
that their assessments had been raised
Mr.. George said he knew Of number
of complaints. ~
Their taxes would be still further in
creased IL we assessed on full value,
sharply said Mr.. Richards.
Never mind about that" answered
Mr. George, whose subcommittee last
year recommended full value assess
ments.
View of Small Owners.
Have you ever thought continued
Mr.. George, that these small home
owners, having difficulty in making
ends meet, might look with some Ques-
ton upon officials of the tax assessors
office who speculate in land and reduce
their own assessments at Belmont
street?"
Yes, they might" said Mr.. Richards.
DO you think It would add prestige to
your office to have many small home
owners feel that IL 10 bad business for
you TO deal in land in the northwest"
II do not suppose they would regard
II az a good thing. said the tax asses
sor.
do you think the good name of your
Office is being hurt because 1t has been
discovered that you and assistants have
been buying land for investment, say?'
Il have tried to be fair about IT,"
q. do You have regard for your good
name as AssessorZ 80 ''-r~ g. =
Certainly I do.''
Have you never questioned the pro-
priety OF your speculation"
4 did not question when 1 went into
this''
looking for a homer?
Yes"
And YOU haven't built the home and
still have the property for specuiatienT'
Would you have acted this way if
YOU had had to go before the people for
election tntsrposed congressman
II think So" said Mr.. Richards.
Have you ever been elected TO office
here ,
hudson Talked of 1t.
Mr.. George asked II the former Com
mis- sioners had ever raised any question
as 10 the speculation Of the assessors
Mr.. Richards said he believed Commis-
siorler Judson had talked about 1t about
the tire the KaIbfus investigation was
commissioner Judson said not TO
allow the matter Of land speculation
TO 70 too far" said Mr.. Richards I
explained where 1 stood and asked II
there was any objection TO IL l think
he said there was no objection as far
as / had gone.
He afterward talked to Mr.. Kalb-
fus, but l don't know what was said
| mentioned to Colonel JudsOn about the
Twentfetlr and Belmont property"
MIR Richards recalled similar con-
yersation with Commissioner Rudolph.
bul was hazy in his recollection Of the
attitude of Mr.. Rudolph.
away WITH" asked Mr.. George.
"I came away from Mr.. Rudolph
with the feeling that there was no
objection to what l had done"
Commissioners Rudolph approved OF
your speculation as far as 1t had
"Eyidently so" said Mr.. Richards.
II wonder IL Mr.. Rudolph will have
the same sort of memory" suggested
Mr.. George, and Mr.. Richards didn't
know.
Tax Assessor Richards said he
thought the Commissioners in re-
port had later condemned" real es-
tate investments by the assessors.
He said he regarded the report as
warning not to speculate again.
so speculation was a bad thing after
all, in the eyes of the Commissioners?
said MIR George. And you were warn
ed against it?''
look.
Did you ever say to your associates
that speculation was a bad thing?'
Not that I remember. l left them to
do as they pleased"
Mr.. George wound up his part of the
A