South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-07-09

dropping 40 per cent in his values
as he went south on the west side
Of Michigan while dropping only 81
1-2 per cent as he went south on the
east side Of the street This was held
forth as showing inconsistencies fin
methods of procedure.
Referring TO the property on y.
Michigan, Jude called attention 10
the property. % 165 feet. owned by
the Nassar Realty Co, on the west side
Of the street just south Of COlfax This
property he said was in the next block
from the COonley property which was
the most valuable in the city. and yet
the assessment was $685. a front foot,
The comparison was made between
this property and the II. NJ. Shivelg
property, "a los feet. on the east
side OF the street just south OF Wash
ingtOn, appraised at $500 a front foot
JuGie maintained that according 20
the figures on the Shively property
the Nassar Realty CO. property should
be appraised at not more than $500
front foot.
The Majestic theaGer property was
cited as having a 44-foot frontage and
being appraised at S542 a front foot
whereas the property was leased for
$3.50 a month or one half Of the rental
of the Livingston property, occupied
by the WOoiworth store. which was
equitable adjustment OF the values
at ColfaX and Michigan, according TO
Jude, would be 10 raise the appraiSe-
ment on the Egbert property. on
the southwest corner. from $3.50
front foot to S400 and place the valu-
alton north from there at not more
than $500 n front foot.
shows Other Discrepancies.
It was stated that according 20
prices prevailing two years ago before
the war the Shively property was
worth % per cent more than either
the Egbert or the Nassar Realty Co.
property The Max Livingston prop
erty 1t was said sold two years ago for
81 GOO a front foot, and was assessed
Sc feet. is located on the west side OF
S Michigan St. Nst north of the
Grand Trunk tracks
a comparison was made between
this property and the Sheridan hotel
property at y. Michigan and Lasalle-
appraised at $3.50 and worth not more
than $500 "a front foot II was said
that the property adjoining the Sher-
idan hotel property on the south sold
three years ago at $500 "a front foot
or an equivalent $3.50 a front foot for
the land alone. The building, rent
ing for $50 a month, was compared
with rents two blocks south. The
appraisements on y Michigan. ac-
cording TO Judie's estimation. should
not be more than $3.50 a front foot
and $500 for the corner properties.
Takes Up Main 1t. Values.
Going from Michigan TO Main 81.
Jude declared that there were two
occupied stores on that street on
which no rent had been paid for eight
months because the tenants were un-
able to Ray their rent and the owners
were unwilling TO have two more va
cant places appear on the street The
speaker declared that as agent FOR
Louis Nickel he had been unable To
lease the Nickel property on the west
side of the street south Of COlfaN, for
S125 a month The appraisement on
this property was ~aid to be S309 a
front foot while on the property i'm
mediatcly south the appraisement was
$315 a front foot The former piece is
deep.
The speaker pleaded that revision
Of the appraisement figures be made
and that they be based on the actual
sale and rental value of the property.
He said that property owners were
willing that a slight increase be made.
if necessary. but that there was no
one who believed that ne could stanG
the increase that had been made. He
declared that such action was IN the
way Of a persecution of the property
owners and that If il were upheld
there would be no outside buyers Tor
South Bend property and values
would therefore take slump until
it would be necessary 20 lower the
values al the next time OF appraise-
ment IL was asked OF the board that
they be reasonable now and reason
able four years hence.
Judic and NOOrdc Clash.
When Judie closed his talk Asses
sor NOorde quizzed him as 10 the value
OF the property just south OF an Sher-
idan hotel. As Jude had been agent
in the sale OF the property three
years ago at $500 q front FOOT, Noorde
asked him III In fact he was not asking
$1,000 for the same property at this
time. Jude declared that he would
let NoOrde have the property at the
same price as was paid for IL. When
Voorde could not get an answer as 70
whether or not 81 600 foot was ask
"a for the property ne produeed a
letter written by Judie In which the
latter had made an offer OF the prop
erty at $1,000 a front foot. Jude
said that he had written the letter but
he maintained that IL had nothing -
do with the actual value OF the prop
erty and that an assessor showed lack
OF initiative in relying on such things
in making his appraisements
=. II. Salhnger. formerly OF the
economy store. inquired OF NOOrdc IL
ne had raised the valuation OF prop
erty on Chapin 81. Noorde answered
that he raised valuations over the
entire city according To his idea OF an
equitable adjustment.
Charles COOnley spoke briefly in a
plea 10 have the valuations lowe. ed.
He gave il as his opinion that this
was most inopportune time IN which
CONTINUED on PAGE NINE