The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-02-04
REAL ESTATE men
WILL ASSIST IN
NEW ASSESSMENT
Members Of Association Will
Aid Assessor Condor in Re-
ConCiIing Any Errors in Re-
cent State Appraisal.

Members OF the Memphis Real Es-
tate association will assist in the as
sessment Of realty inside the city limits
FOR the current year, and win aid w. T.
Condon, state and county assessor In
reconciling any errors that may have
been made in the recent appraisal made
by representatives OF the new Tennes-
see Equalization board under the pro-
visions OF the new assessment and
taxation laws.
The appraisal made for the state,
which placed the total valuation of
county at $500. .00l, $40, was only the
frst step In the assessment,
While the law contemplates that
county assessors throughout the state
shall take these new valuations as a
basis upon which to fix the assessments
in each county, the assessors have au
thority TO make such changes as, by
proof satisfactory to them, shall APP
pear to be necessary to arrive at the
actual cash value OF all real estate.
They may increase the values fixed by
the state appraisal, II II appears that
they are too low, or may reduce them
Il. proof shows that they have been
placed too high.
The county assessment Of realty In
the city Of Memphis alone for 1918.
which stood also for 1918, as realty Is
assessed only once in tvn years. was
The state appraisai witiin the city
Is 1921, ,2Te, SIG
The state appraisal Is approximately
800 per cent higher than the former
assessment.
II Is frankly admitted that the former
assessment for state and county pur-
poses was not made with any idea Of
fixing the actual cash value, either in
Memphis or In any other city or coun-
ty In the state
Members OF the Real Estate associa-
tion, in special session Wednesday at
noon, after comforting with Mr. Con-
don, offered to furnish him with com
petent appraisers who Will accompany
him and his deputies in the personal
inspection Of city realty which the law
requires him to make, and assist him
with their advice as to what In their
opinion Is the actual cash value OF the
realty in the city,
Co. operation Planned.
This action was taken not with any
idea OF antagonizing the action OF the
state equalization board, but with 4
view TO cooperating with the state Of
ficials as well as with Mr.. Condor, in
deciding any questions where they may
be difference OF opinion as TO values
fixed by the state appraisal.
Mr. Condon as the law requires, will
make the assessment.
lie has assured the state officials that
he intends TO strictly follow the law
and that he win fix the actual cash
value upon all property within the city
and county He. however, has the au-
thority to make such changes as he
feels should be made. He wishes the
CO. cooperation of the members OF the
Real Estate association in arriving at
those values.
lie has already begun the assessment
and while there has been delay Of
month owing to the failure Of the
state officials to compile their figures
by Jan. 10, he hopes to complete II
this month.
Individual instances of over valuation
by the state appraisal have been mem
toned by many taxpayers. In such
cases the owners only have TO pre-
sent tangible proof to the assessor,
either showing that actual sales have
been made at a price below ths state
appraisal, or that a bona fide contract
for sale has been made, or that the
property has been listed for sale IN
good faith with a reputable realtor and
corrections may he made. Mere asser-
tions that property i appraised too
high will not be accepted, There must
be proof Of such assertions,
A. V Louthau. chief statistician OF
the state equalization board, has stated
that the state tax will be this year 25
cents instead Of 70. Property owners
can find out what their appraisal is
by visiting Mr.. Condon's office at the
| courthouse. TWO deputy assessors are
on duty during office hours TO assist
| taxpayers in finding their assessment
| as fixed by the state appraisal
Last wears tax bills will show the
total state tax In hundreds of in
stances where comparisons have been
made. taxnayerS have found that even
with the Increased valuation put upon
their property, they will pay consid-
erably less state tax this year than
| last
As to the county tax rate, that rests
with the county court and will not be
| fixed until the July term, Before that
| time the assessment Tor state ane
county nurpases will have been com.
| nleted ard the county board Of equali
| gatioV viii have nassrd upon the totals