Evening journal., 1923-01-30
How PROPERTY
IS ASSESSED
Colonel Slower Tells Lions
Club Present Law Meets
City's Needs
EXPENSES DOUBLED
IN EIGHT YEARS

b
law, and of that has been accom-
plished under the law. For many
years" Col. Slower said "the need of
a new assessment for the City of
+, Wilmington had been urged by those
who were familiar with exising con-
dltions, and in 1918 the General As
! sembly passed an act making II
obligatory upon the Board of Assess
ment. Revision and Appeals, to in
stall a new systeis to be used as the
basis OF assessment Of real estate in
( Wilmington. which became effective
/ with the fiscal year beginning July /,
1914. For a long time the various
departments of the city government
had been seriously handicapped by
IN of lack OF. funds, and, until
I the year 1914, it was the unfailing
custom for City Council 20 close its
/ fiscal year with a deficit ranging
/ from fifty to eighty thousand dol
1 lars. Wilmington was no worse In
this respect than many other cities
but there Is reason TO believe that
under the new order OF things it is
] as good as any and better than most.
Beginning with the year 1914. with
/ a single exception when an extraor-
| binary occasion arose, the city has
regularly paid all It's current obliga-
/ tions and ended each fiscal year with
/ a cash balance, without the necessity
] OF a temporary loan from the banks.
In the year 1914, the total ex-
penses Of the city amounted TO ST.
/ 291, ,070.36, with tax rate of $l.53
per hundred Of assessed valuation.
while for the fiscal year 1922, the
total appropriations amounted to So
642212.44 being more than twice
those OF 1910, with tax rate of
S1.9O per hundred. This is an In
crease in the expenses of the city
during a period Of eight years Of
and an increase In the
tax rate of only 81 cents per hun
dred. This represents an increase
Of more than 1O4 per cent. in the ex-
penses OF 1922, above those of 1914,
while the Increase in the tax rate has
been only 23 per cent. II Is difficult
to state just what the tax rate might
be today II the old .method Of as
sessment had been continued, but as
tine ENUtnStG VI AAAt NAAN AaNf AARAN
than doubled during the period in
question, It is fair TO assume that the
tax rate would have increased in like
proportion.
Il want to state that the Board OF
Assessment has absolutely no pow
ers In making appropriations for the
expenses of the city, or with fixing
the tax rate. Its sole function is to
/ establish assessed valuations on all
real estate liable to taxation and
place same on the assessment rolls.
While the members of the board
/ frankly. admit having made many
errors in connection with their work,
they have been sincere in their ef-
forts to have justice and equity pre-
vail in the fixing OF valuations. and
endeavored to render to every prop
erty owner his just due. without re-
gard TO politics, friendship or any |
other reason. II can properly be
claimed that the new assessment |
system has aided materially toward /
improving the fiscal affairs OF the |
city. but it is not claimed that tho |
system Is perfect as no system can /
attain UtIAtEAAOn" 4 AANAR oAN ~
proximately $4,000 different parcels /
of real estate in the city. and as the /
establishing OF values on real estate |
is largely dependent on human judg- |
ment, which is not infallible. it |
would be unreasonable to expect that /
all of the assessed valuations are
absolutely correct.
III every owner of real estate in |
Wilmington should truthfully state /
what he paid for his property II
would prove nothing except what he |
paid for it. That alone is not an /
evidence Of present value. II every |
owner Of real estate in Wilmington /
should truthfully state the amount /
for which he would sell his prop /
erty, that also would prove nothing, .
except the amount for which he is |
willing to sell. In either OF these (
cases the price named might be more
or less, than the true value Of the
property. The selling price OF a
property depends largely upon the
conditions existing at the time OF the
sale. and also how anxious the owner
may be to sell or the purcaser to
buy.
Under the old system OF assess
ment, the methodo of making the
same was left almost entirely to the
judgment OF the assessor. The Act
OF 1914. creating the present Board
! of Assessment for the city OF Will
mington, defines the means and
methods by which the board shall
assess real estate, Of those who may
not be familiar with the Act.
zone OF the most important fac
tors used in arriving at a correct
valuation OF land is commonly
known as TAX Maps" These tax
maps show the outline and dimen-
slons of each square and lot in the
city. as fixed by the titles Of the
owners of such lots. These maps
represent the first stage in the as
sessment Of real estate. IL is man
ifestly unfair 10 charge a man with
more land than he actually owns,
and therefore It. was necessary to
plot on maps each parcel of land in
the city, as shown by the deeds in
each case.
I'm the middle of each block a
unit value Of land is established
The unit Of value. is the value of
a piece of land with a frontage of
one foot and a depth Of 100 feet. Not
all lots are exactly 100 feet deep
or regular in shape. and therefore
/ 1t was necessary TO arrange a table
Tor calculating the proportion of
value Of parcels of land Of varying
depths and outline. 1t is evident
that lot 80 feet would be worth