Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-10-27
PROPERTY VALUES
JUMP $44,973,6O5
City's New TrienniaI Assess
ment to Be Made on Realty
Worth 3e0,O97,7 49.
100 PER CENT INCREASE
IN BUSINESS SECTION
Figures Meet With Complete Ap-
prevail of the District Com
missioners.

washingtons new triennial assess
ment carrying total valuation for
land and improvements of $39O.O91,749
an increase of S44 973.6o5 over the
returns of three years ago-became
law today through receiving the formal
approval of the Commissioners
The assessment shows 100 per cent
increase on certain properties In the
business section. The figures meet with
the entire approval of the Commission
ers who believe that they represent as
nearly accurate values as it is possible
to obtain.
In discussing the ASS essment, which
shows a total land value of S2os,os5.-
31> or an increase of S3S,Sl3.219, ana
a total improvement value of S1S2,-
O1243I. or an increase of s6,10o.3ee.
Commissioner Newman this afternoon
said:
Efficient Piece of Work.
In approving the triennial assess
ment to which the commissioners
placed their signatures this morning, )
feel that one OF the most important anu
u )
o. our ;,dminiStra ton has been accom-
piished There has been a great deal
said about this assessment. ana 1t mas
been freely charged, particularly among
real estate operators. that it was too
high. but after going over the results
carefully l am convinced that II IS a
remarkably accurate ssessment-made
so by the very hard and thorough work
of the assessor and the board of assist
ant assessors
The most convincing and, to my
mind. the conclusive evidence that the
assessment is more nearly what II
should be than any previous assess
ment is offered by the compilation of
actual sales of property occurring IN
the last two or three years. Accurate
information as to the actual consid-
grafton in these sales has been col
lected by the assessors through the eX-
,enditure of a great amount of time
and effort and in spite OF the fact that
he consideration is not required by
aw The total OF these sales in the
business section 10 between sixteen and
seventeen million dollars, and the total
assessment of the properties thus sold
5 approximately the same. the varia-
ion on the average being less than >
ger cent, greater or less
From actual sales totaling such a
arge amount the assessment of other
'roperties in which there have been
90 sales has been figured. and l think
hey are, therefore. amply Justified. al
hough. of course, elements other than
he actual sales of adjacent property
ave entered into the assessment.
Low Assessments Alleged.
Some Of the most valuable properties
the business section the assessors
'und had been assessed much too low,
al in number of cases it was neces-
ry to make some very great increases
order to bring the property up not
'ly to the true valuation indicated
the actual sales, rental income, etc,
Il to make them square with the as
sSn1ent of other properties in their
cin.ty. cite few of these increases
illustrate the Inequalities which had
eviously existed and to show the diff
ulty and the fairness with which the
SCISSORS did their work:
The ground occupied by the New Will
I'd Hotel was raised from $501 900 to
$4,000. or about So per cent: the ground
cupied by the Riggs building was
out 40 per cent the ground occupied
= the Riggs Bank was raised from
$500 to s202,5O0, or about 40 per cent,
Id the bank building was raised from
'o.ooo to s12o.0o0. the ground occupied
the National Safe Deposit Company
as seised from s149.7s7 to s272.-
90. or about so per cent; the
ound occupied by the Colorado build
x was raised from s335.2oo to
$3.50, Or about 33 per cent: the
round occupied by the Southern
uilding was raised from s310,968 to
'9@.72i. or about 80 per cent: the
round occupied by the Shoreham Ho-
] was raised from s230,9O to $412,-
%. or about So per cent; the ground
coupled by the American Security and
rust Company was raised from $751;
81 to s402,330. or about As per cent;
ne ground occupied by the Washing
on Loan and Trust Company was
aised from s158,36i to s232.O5O, or
bout 90 per cent: the ground occupied
" Saks d Co. was raised from $109,272
o s2l2,so0. or about 100 per cent; the
round occupied by the Academy of
.usic was raised from $1,000 to $780,
60. just 100 per cent; the ground oc-
upied by w. b. Moses & Sons was
aiSed from S204.920 to S316,155. or
bout so per cent
lhese are unusually large increases
nut were made necessary in order to
make the assessment of these proper-
res proportfonate to the assessment of
other property in the District of CO.
iunbia.