Lower coast gazette., 1913-11-15

t0SHSS w AOl1OV 80 ss~s ASSSSS~ES
and the Baton Rougians believe
that all such followers would
find themselves very handsomely
remunerated if they would adopt
this style of assessment first con-
sidering the value of the land
alone and then the present value
Of the improvements thereon and
assessing the property accord
ingly.
This may open a new era Of
assessments in Louisiana, as it
has been reported on good au..
thority that in the city of Shire
veport much Of the property is
only assessed at one-third of its
market value. In New Orleans
it is reported that nearly all Of
the property is assessed for as
much as its current market
price. The Baton Rougians,
however, adopted a 60 per cent
standard which they found was
adequate to produce the neces-
sary revenues and this 60 per
cent level Of values is generally
considered safe in financial cir
cles. The savings banks in many
of the states were restricted in
lending their money on any prop
erty to an extent beyond so per
cent of its market value. There
fore 60 per cent valuation would
seem to be a conservative one.
After one of the panics that &C.
Cured since the civil war we
heard testimony given in the
supreme court in tn. state of
New York as to the value of con-
siderable property and that tes-
timony was 10 the effect that
savings banks that had been
loaning money on real estate to
the extent of 50 per cent of its
market value were then only
just covered, owing to the great
depreciation in real estate caused
by the panic.
We learn that in New Orleans
since the panic of1907 much real
estate has been sold at and be-
low it's assessed value. In con-
siderable testimony given at
Baton Rouge under Gov. Blanch-
ards administration concerning
the valuations Of property on the
Lower Coast, Sheriff Movers
stated to Gov. Blanchard that
scarcely a piece Of property that
was brought to sale brought even
its assessed value, This was
done at a time when Governor
Blanchard was seriously bent on
doubling or TRIPPING the assessed
values ofproperties Of the state
and from what we have learned
since, we are led to believe that
knowing as he did the values
that were utilizing in the city of
Shreveport he of course assumed
that the rest of the state was
equally incorrect in its assess
ments and that a general correc-
ton should be made. He accept
ed the statements made by the
gentlemen representing Plaque
mines parish and expressed great
surprise that the conditions were
as they We're represented.
The general gist Of these CONF
ments however is to call atten-
ton to the idea Of assessments
based upon the market value Of
the naked lands and then to al
low fair assessments for the i'm
%provements, separating the ideas
entirely until the final combina-
ton should be reached. Twenty
years ago Plaquemines parish
had twenty or thirty sugar
houses. These have nearly all
disappeared, leaving but one
sugar house in operation in
Plaqueminss parish on the east
bank and but one on the west
hank and none in St. Bernard.
Some of the planters of a gen
eration ago you'd turn over in
their graves if they could note
the conditions in Louisiana. They
would be astonished to find what
changes have occurred in the
last two or three decades.