The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-24
MEMPHIS REALTY
IS NOW ASSESSED
At %S97,OO1,135
Main and Madison Land Is
Worth Million Dollars Per
ACre-Per Capita Assessed
Wealth at $554.34.


The assessment Of Memphis realty
this year shows a slight decrease for
the first time In 10 years or more.
The figures, as reported by T. G..
Scarborough, city tar assessor, to the
board Of equalizers Wednesday, are
Ss7,Ool,l35. This is more than a quarter
Of a million dollars less than the final
assessment figures for 1918, which were
The board was organized wednes-
day morning with ]. H. Smith, chair
man, and W. H. Dilatush, secretary.
Other members Of the board are ]. W.
Reyes, p. j. Dauriac and /. sugarman.
Charles 2. Davidson, Of the assessors
office, will act as clerk.
The books will be opened in the coun-
Gil chamber Thursday for the inspection
Of the public and review OF the assess
ment Of the Twenty ninth, Thlrtieth,
Thirty-first and Th~irty-second wards
VIII begin Monday, April rs. The days
when ward assessments will be re-
viewed will be advertised.
MT. Scarborough. in his report,
not mean that property values have
really. shown a loss during the war
period, but that considerable property
has been transferred from private own
ership to government, municipal or
church purposes, and In some instances
values in a few Of the older sections
ot the city, where a general deprecia-
ton OF values has been In evidence for
several years.
U. s. Takes Property.
He refers to the transfer Of consider
United States, as a site for the pro-
posed new postoffice substation, the
sale Of the River and Rail Storage
plant TO the city, and the transfer OF
the old DR.. D, T, Porter home on Vance
avenue to st, Agnes academy last year,
as examples Of the. reduction Of the
total assessed valuation.
1t Is a matter OF common knowledge
that practically all building operations
were suspended last year, and the re-
port shows that only 102 new structures
valued at S486, $50 were built in Mem
phts In 1913, as against a record OF
seS, with q total value Of 50, 672, 900, In
1914, the first year OF the war.
This years assessments are divided
into separate Items OF land and improve
ments, The land values are placed at
SbS, ObS, $40, the buildings and improve
ments at S4S,s3t, 325. These values ere
Tor the II months ending Jan. 10.
New System Used.
In submitting his report, Mr.. Scar
brough calls attention to the installa-
ton OF a new system of assessing,
modelled on the New York city land
value methods and the somers system.
The cost Of putting in the new sys-
tenn, he states, has been only 1880,
although Northern assessment experts
asked $4,000 for putting in the same
system,
The personal property estimates are
being tabulatsd and will be submitted
to the board Of equaliZers within a few
weeks. The city assessment was COM
plete this year earlier than ever be-
fore: 1t has been ready since the first
Of the month.
The assessors rScapitulation Of his
report. showing some interesting fig
ures, follows:
Total assessed value exclusive Of
railroads, street railways, telegraph and
telephone e%ompaniesl ss7, oo1, las.
Land value. Sb3, 069, $40,
improvements, $43, s31, 325. sr
Average per capita t17b.ooo popuia;
New bulId!1Es assessed. 1os with TO-
Most valuable ward, the Fourth, ~
$4,000.
Most valuable residence ward, the
Sixteenth, $4,76S,2I5
MOST Valuab piece OF realty, Bank
Of Commerce and Trust Co, $S25, 900.
Value OF land at Main and Madison
assessed as acreage would be 81, 900, 900
per acre.
II socialism prevailed In Memphis
each Memphian In the division would
get S6bi,34, but as property TO the as
sessed value OF 1000 Is exempt from
taxation In Tennessee, no one would
n eNIS Any y "a no pay, aH ur. henoe mere
street lighting or any other necessity
I'm other words, no government,