The Birmingham age-herald., 1924-04-09
FIRST MOVEMENT FOR ADJUSTMENT !. OF TAXES TAKEN
Reappraisal Of Municipal ; Property Is Seen As
 Step Forward

First steps toward readjustment of taxation standards in Birmingham, in keeping with modern valuations locally and in line with values in other cities of Birmingham's class, were taken, it is generally believed, by action of the city commission Tuesday in calling for a reappraisal of municipal property.
 The action was understood by many to be the forerunner of efforts for leg islative action paving the way for needed bond issues of the future, con- sidering the fact that the city is nearly up to it's bond limit now.
 President D. F. McLendon was given ..earte blanche by his fellow members of the board of commissioners Tuesday morning to employ the Birmingham Real Estate exchange, or some other authority, to put present-time values on all lands and buildings owned by the city of Birmingham and those under control of the board of education.
 No Recent Appraisal
 'For this reason," said Mir. McLen- don, explaining the matter after the meeting, Birmingham municipal prop erty has not been appraised for years. Since the last appraisal, made many years ago, values have undergone radi- cal changes. While it is true some few may have slightly deteriorated, the great majority has advanced in price to far more dignified figures than the old listings show. &sQ@
 "While it is good business on gen eral principles to have this Information, it's direct business value is sound back ing for municipal bonds; improving the market for Birmingham municipal bond issues and, probably, securing not only more ready takers, but entailing the probability of better terms. For in stance, loans made against property valued at $1 900 are more readily made for a given amount than were the prop erty in question valued at $500"
 Investigations started in city titles to property, Mir. MeLendOn, Fin part, said, show that in the earlier days records were not as carefully kept as could be whose area is today somewhat obscured by the way the property has been de- veloped. In another case there is q piece of used land for which no title seems to exist, though it has been known as municipal property for decades.
 ':These matters must be strengthened up at Once," the president of the com mission said, -"and it is high time to get at it. We are simply taking stock of municipal realty and twill be done by men who know their business"
 To Raise Limit Although Mir. McLendon did not say the stock taking would have any. eff feet on enlarging Birningham's limit for issuing bonds, others think there can not but be a readjustment of tax values, to some extent, by the readjust- ment,. officially, in municipal holdings. Birmingham, as community, is taxed on a general valuation of $780, 100000. This figure, knowing ones say, would not reproduce third of the present city, nor would it buy a third of Birmingham as it is. On l Twentieth street alone 25-fOot fronts have brought more than $fO0 .000 ip recent months.
 There are those who see in the new movement the entering wedge toward getting Birmingham values on more modern tax basis. a considerable en- largement of the citS's bond issuing scope within very few years, and above all, some definite figures to place before the next meeting of the legisla- ture when it is known the matter of tax limits and values will come up. For, if the school and library bond iS- hsues go through, Birmingham will be up to it's bond limit and tied until some of the old bond issues are paid off.