The Washington times., 1920-07-24
SET VALUES Of.
|NEWBU|LD|NGS.
D. c. Assessors Complete Por-
tion OF Work-Start on BIZ
ennial Findings.

The assessment OF structures nm
ished during the year has been con
cluded by William T.. Richards. the
assessor for the District OF Columbia
and the assistant assessors, and from
now on they will devote their efforts
toward making the new Biennial as
sessment.
The assessment on the new prop
erty Is TO be added TO old property,
which will remain at the same assess
ment for 1921, as IL was this year.
The new biennial assessment does not
take effect until 1922.
The biennial assessment will be
completed by January, 1921. In max
Ing up the assessment the assessors
have before them, as a guide, about
so or 80 per cent OF the sales that
have been made OF property in the
District OF Columbia during the past
two years. These records show that
out OF sales OF 500, 900, 900. the basis OF
the old assessment is within 20 per
cent OF the prices for which the prop
erty sold.
MANY SOLD AT LOSS.
This is due to the fact that al
though many pieces of property sold
for so or 100 per cent above the
assessment. many sold below. This is
particularly true OF some of the prop
erty In the business sections OF the
city and where the property was un-
improved, or but poorly improved.
In the next assessment, the asses
sors have progressed SO far in their
work. that they believe the ground
in the District will be pushed higher.
but that the improvements will re-
main about the same.
a..
avenue: on II street northeast, on
seventh street northwest, and parts
of G street northwest. 1t is probable
that the values on improvements
also will be rised, but with these few
exceptions. values probably will re-
main the same on improvements
throughout the city.
USUAL FORMULA UPSET.
THE question Of equalization has
given the Board of Assessors consid-
cradle concern" Assessor Richards
says. "as the basis of a real sale
should be a willing seller to a willing
buyer But the abnormal state Of
the market has upset this formula.
a many have been driven to purchase
property who did not actually desire
to own a home, but were forced to
pay either an eNorbitant price for the
property with some hope of being
able to finance. it. or else to attempt
to pay a rental that seemed to be en-
tirely beyond their means.
The abnormal price of building
material, as well as the cost of labor.
has placed a premium on all build
ings aready erected. This premium,
of course, is greater on new buildings
than on the very old ones. The ques-
tion, therefore, confronts the asses
sors as to how far they should go in
raising assessments on improve
ments. particularly upon the old ones.
1t can be stated, however, that a
certain amount of raise will be made
on the very new structures, on apart
ment houses, fine office buildings, and
hrst-class residences. 1t is doubtful
whether little or anything will be
done with middle class houses or old
structures.
This question Of improvement as
sessments has given trouble in all the
large cities. and the question was
very thoroughly discussed in March
of this year at the tax conference OF
New York State. Assessors seem to
be at a loss as to what course of ac-
tion is demanded under the unusual
conditions, and in the city of Buffalo
assessors raised all buildings in 1919
to a uniform rate of 10 per cent, plo-
ducing an increase of S300OO,O 900 in
assessment roll. An increase of 10
per cent in Washington would mean
adding S2O,0OO,0O0 to the assessment
of the buildings. This will not be
done, however, but it is more than
probable that such an amount of in
crease may develop in the assessment
Of land.
The biennial assessment, when
completed. will be open to review be-
tween the first Monday in January
and the first Monday in June, 192l.'