The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-01-17
STATE APPRAISAL
OUT Of LINE IN
MANY INSTANCES
Real Estate Men Claim That
State Figures on Proposed
Assessments Must Be Re-
viSed for Taxpayers.

Figures on the tentative appraisal Of
real estate In the city wards are now
reaching the county assessors office
daily, although the completed appraisal
for Shelby county will probably not be
sent out from Nashville for at least 10
days.
Comment has been made from time
to time upon the appraisal made by the
representatives OF the new state equal
ization board, and committees repre-
senting a number OF the clty's civic or
ganizations have done some work In In
vestlgating the figures thus far avail
able.
No accurate comparison can be made
until the figures for the entire state
appraisal have been announced at
Nashville, But at present, business
men and taxpayers are chiefly con-
the proposed new appraisal which have
been discovered In many OF the wards,
The Chamber OF Commerce, the Mem
phis Real Estate association and the
City club, all have committees ready u
cooperate In the Investigation OF the
appraisal figures as 70 the city OF
On Idlewild street, for example, APP
praised values per front foot are from
s25 to $50.
On Evergreen street. appraised val,
ues are from $40 70 s5e On Eniol
HAtiftt. eNdNt VI aa1fsNCIF&r - = t4tsAb0 "
pfnissl nIon nsar Is rrG% eIeyssnG 81 q siss z,
foot On Madison, from ~ yhrools 4
Cleveland. about the SAN Further
east on Madison. at the corner M Rains
place, for example, the appraisal ls Isl
a foot On jefferson and Court ave
nues, eastward from Clayhrook to Wat
kins. appraisal is from s25 to s3S foot
But when II comes to the appraisa
OF the residences In that section, rea
estate men who have looked into th,
figures. claim that they are In man!
instances decidedly out OF line.
One lot at jefferson and Watkins
for example, Is appraised at $50 foot
on 62is feet by about 1870 feet deen
| and the residence at $500. or S5.6s
for the property That house was OF
fered for cash at $2,700 and was sol'
Jan J. partly on time, for $4,000, Oh
| viously, the new owner win be entitled
| to an appraisal at the figure he paid
| The proposed new appraisal Is over 20
| per cent of the cash price at which
was offered and nearly 200 per cen
| OF the actual sale price on long time.
Another residence close by on Jeffer
son, with the same frontage, Is ap
praised az s25 foot and 5000 for tn
house. The total appraisal is NOR
4 hold last November for S.750. OF whic
| only about $3.50 was In cash
Another property on Court. betwee
| Cleveland and watkins which wa
bought less than four years ago 10
| $4,000. on monthly payments with onl
small cash payment down. Is ap
| praised at Sc 000 OF which $500 Is o
| the house. The property could scarcel
have advanced in value 50 per cent I
four years. II has been offered for sal
| recently at $4,000. The old assessmer
on this property was $4,000, or rs I've
cent Of the cost.
| On Strathmore place two vacant lot
| sold about Dec. !, 1919. for Sl,400 eacl
They are appraised at $4,000 each O
| 225 per cent of their value
II Is these examples that members G
| the Real Estate association have
mind and similar examples In numerou
| other wards, upon which they intend I
base their protests before the count
| equalization board.