Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1920-02-05
STATE TAX BOARD
. ADVISES ASSESSORS
Says Don't Be Governed By
Present Inflated
Values
\ ~
STAND FOR 5 YEARS
Tax Board Desires a Reasonable In
crease in Assessed Values That-Will
BE, Fair Under Normal Conditions

! The State Tax Board consisting 0
the Governor, the Auditor, of Publi'
Accounts and the Chairman of thu
/ State, Corporation Commission, ha!
written a lette' to the Judges Of tht
Circuit and Corporation Courts in re
gard to the assessment of lands t
be made this year. The Tax Boart
takes the view that in arriving a
the "fair market value" of real es
tate the assessor should not be gov
erned by the present inflated values
for the reason that the abnormal con.
dition now existing cannot be ex.
pected to continue through the period
of five years during which the pres
ent assessment will be in force. This
position of the Board is stated as fol
lows:
February 5, 1920
Hon. Samuel G. Brent,s
Judge of 10Th judicial Circuit,
Alexandria, Va.
Dear Sir
"Taxes derived from land and
tangible personal property are So
gregated to the counties, cities and
towns. The State receives no part
thereof save tax thereon of twenty
five cents on the one hundred dol
'afs of the assessed value, which is
devoted to schools, roads and tuber-
,ulosis. Not cent Of the land tax
roes to the support of the general
State government.
It has been brought to the atten-
lion of the Board that considerable
uncertainty exists among the land as
SCISSORS as to the meaning Of "fair
market value as used in the Consti-
tuition and the statute law. While the
term does not lend itself easily TO 2
precise definition, the fact that no at
tempt is made to define it either in
The Constitution or in the statutes
indicates that those who frame the
Constitution and those who havs
served in the. Legislature since the
adoption thereof have deemed it ex-
oedient to use general term which
permits the exercise Of discretion on
j he pant of assessors rather than to
circumscribe their work with string
ent regulations. ;,
The State has adopted the policy of
assessing real estate quinquennially,
When, therefore, the value is deter
mined by the assessor it remains fix
ID for period of five years. The
State Tax Board is of the opinion
Therefore, that the assessors appoint
ed for the 1920 reassessment should
.ake into consideration the abnorma
Conditions which now obtain.
Since the value of all property is
measured in terms of money, the pre-
sent initiation Of our currency has pro
iuced a consequent initiation in tht
'alue of real. estate. Deflation o:
these values, which has already be
gun, will become more pronounced a!
economic conditions are restored to :
normal basis. Other abnormal factor!
10th general and local in nature hav.
,lso contributed to the establishment
# values more or less fictitious, AM
| he adoption Of these values as tn
| 5asis of five year assessment vii
york an injustice on taxpayers whe1
formal conditions are restored.
! The Tax Board has never enter
| tained the desire that the assessor
overlook these abnormal condition
n making their assessments, but
loes desire reasonable increase i
assessed values that will be fair t
he land owners under normal cor
litions. and at the same time produc
fair and proportionate part of til
.evenue required to gradually effe,
'tuate the Estate Highway System
IS prescribed by lazy and to bette
.he elementary schools of the~Stat
which must be accomplished if Vi
ripia is to maintain her positi;
r among the progressive States
. Yours very truly,
State Tax Board.
Westmoreland Davis, Chairma