Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1913-01-17
real ESTATE ASSESSMENTS
DISCUSSED AT Meeting HELD
THIS week At GRAND FORKS

matter of some difference. Just how
a common judgment should be reached
and just how It should be applied are
matters of some controversy. II
seems clear to me that there must
be some fundamental principles gov.
crning comparative relations OF val.
ues when once a unit has been estab.
lishcd. which would make aDpraise.
mcnt but little more than the working
out of a mathematical formula rather
than the vaguest sort of guess work.
In several states much stress has
been laid upon the record transfers Of
real estate as q basis for valuation.
While this is undoubtedly an aid in
establishing values. in my Judgment it
is far from conclusive. In my limited
knowledge of business | have been a
party to a transfer Of several parcels
of real estate and | canot recall n
on which the price recorded in the
deed represented the actual cOnS!dera-
ton involved in the transfer. ! pre-
sumo that the parties to these trans.
fers were as honest as the average cit.
iZcn of North Dakota. | believe that
in the business world it is considered
perfectly honorable to cover up the ac.
tual transfer value Of land; but if by
means of an oath and a rebate filling
fee the actual transfer consideration
could be obtained for each and every
niece of real estate transferred in North
Dakota | do not believe that it would
even then be a scientific basis for ap-
praisement. In the first place in GER
tain localities land changes hands with
great freedom while in other lOcali-
ties there is seldom if V g a transfer.
Here and there in every community at
all times and especially during periods
of financial depression men are com
low its actual value; while on account
of location or other causes lands
change hands at much above their ac-
tnal values. Moreover only averages
con be secured and how can the av-
eragc be made to apply to that piece
of land in q fertile locality which con
tlinS a gravel bank, a slough or other
worthless or cheap tracts. Under the
system of valuation worked out thru
real estate transfers the best pieces
OF land in the community would then
tend to equalize with the poorest
pieces of land.
The same is quite true in cities and
towns. Perhaps the most valuable
piece Of property will not change
hands in twenty-five years; perhaps
there will not be a half dozen changes
in the best business portion in a city
in a decade; moreover, where the i'm
provements constitute a large portion
of the value the matter OF deprecia-
tion robs a transfer record of any val
NC. In cities and towns capitalization
from net rentals would undoubtedly
be Of considerable value, but it would
be quite as difficult a task to arrive
at the net rentals as it would be to
arrive at the actual value of the prop.
city by applying scientific methods
through the entire town.
, While l do not presume to judge.
my impression is that the so-called
SOTers system is the most practicable
application of scientific aDpraisement
of real estate. am quite aware that
in making this statement am running
counter to Allen Ripley Foote Of Co
lumbus, Ohio, the guardian angel Of
the National Tax Association. While
! may be in error, my judgment is that
1t we await a solution OF the tax prob
lens in this country until one is fur
nished by Allen Ripley Foote and his
co.workers, we will be a long time
in arriving at anything better than the
general property tax, which is II
vogue in Ohio, under the direct inspir
alton of Mr.. Foote. So far as | know
the 1911 report of the Ohio Tax Com
MISSION is the only IL extant which
champions the general property ia,
and pretends TO a belief that a uni
form advaloram tax is just and eQuit