The Washington times., 1924-07-01
"
INCREASE
OF 20
CENTS
Expected Revenue Put q
$4,000, 900 BY Auditor
Donovan

An increase in the District tax
rate on real estate and tangible
personal property from $t.20 to
$40 per 800 Of value was or
dered today by the District Com
missioners, effective immediately.
The increase is the result Of the
action Of Congress during the
past session in abolishing the plan
OF fiscal relationship between the
DederaI and District governments
and to consequent increase in
the appropriations.
New Rate Surprise.
The announcement Of the $40
rate came as q distinct surprise, as
preliminary estimates showed that
the new rate would be in the neigh.
borhood Of $50 or s1.55.
The application Of the tax rate
Of $40, at full valuation, win pro.
duce an estimated revenue OF 312..
100000. District Auditor Daniel ].
Donovan informed the Commission.
ers. He estimated the total as.
sessed value Of taxable real estate
for the fiscal year beginning today
ct 500, OO0.0 900. and tangible per
sonal property at 500. OOO, 900, max.
ing the total estimated valuation
for both purposes for the coming
The new tax rate goes into effect
Immediately. and the first payments
under the new rate will fan due 10
six months.
The $40 rate has been IN effect
one year. and final figures for the
year ending yesterday showed rev.
enues $1l,S99.S4 in excess Of the
expenditures for the year, this ex.
cess being credited to the District
against the expenses Of the current
Revenue From Old Rates.
The $1.20 tax rate, together VIII
oLner sources Of revenue. incIfsding
the tax on intangible personal iron.
erty, public utilities, banks and
building associations and Yniacel.
ianeous collections. produced = ~.
tal revenue OF $15;O73.744.7 N. Al.
dit0r Donovan reported.
The total obligations againat khaas
revenue collections, represeYftaIl -
the District Appropriation biTI- ~.
Llclency appropriations ana fl1A 800,
1und, amounted to SIS. O6l, 744.ST.
Inc excess In revenues, together
with the credit to the District frnm
unexpended balances OF apuronrfa.
tons enabled the District fO carrv.
forward into the. fiscal year Of 1925
credit Of $597,157.33.
Revenue for 1895.
The total amount carriAd IN -.
district appropriation bill FOR fhs
fiscal year Of 1895 Il S26 .l7t afle
From this total 10 deducted 81 100,
500. chargeable to water revenne.
ana gasoline tar revenues. fntaiIirs
1910, 200. leaving the amount ~, ~
PAID nom the revenue OF tla YTnitel
states and the District 81 c.nInr,
bia, $24.s52. 44s.
The contribution by tha rFn,t.l
states is $4,000 900. leayinr. fI5a -
amount 70 be raised BY the Ilist, -
AGAINST the District annrn.,,.s- 60 ~.
DILL $l5,S62, 44S. 70 thi- $500,
must be added $500 900 tnws,.d ~.
cash fund; $4,000 Tor tan rrt,,,,d, =.
9OO,OVV Tor extension OF streeta M
avenues under the assesgner,f riar
M Hnd deficiency appropriations Total
ing $2,645, 94S. s0 ~
THESE additions ana otl,Ar ,n,.
celaneous items bring ira to4ai i.
$18,99S, S96. sOn g
r. Inc estimated revenues for ~.
f nsSrl ; year 1925. including surplus
tha t.x me ilscal year Just ended
iic utilities and other taTss ~ ~
cOlectlon Of penalties and f,nss
reouces the total to Be- raiaad ~ n.
r rae application Of tax rate ~
"a s1s E7C Nv ana tangible property
producing and estimated rav $780,
Of $Iz,6OO,O00 should Nser;sS..sS
create slight surplus. accor t
q the estimates Of the auditor
4