Evening star., 1925-07-01
Text of Report.

The report of Maj. Donovan upon
In part as follows:
For the fiscal year ending June
30, 1925. the Commissioners fixed a
tax rate of S1.40 for each 500 of the
full assessed value of real estate and
tangible personal property. This rate
produced with other sources OF rev.
enue, including the tax on intangible
personal property, the tax on public
utilities. banks, building associations,
etc, and collections from miscellane
Gus sources. total sum of s19,293,-
076.91.
This amount includes surplus rev.
enues collected in the fiscal year
1924 and used as credit in the fiscal
year 1925. amounting to S597.l57.33.
and also the further sum of $685.
G0s.62, being the Districts proportion
of lapsed cash balance of appropria-
tions carried to surplus by warra Mt
of the Secretary of the Treasury.
The actual revenue collection of the
District during the fiscal year 1925,
exclusive of the two items mentioned.
applicable TO appropriation charges,
amounted to $1s,457, ,31o.96.
Deficit Carried Forward.
Inc tOldl ODllEdllOH against tne
revenue of the District for the fiscal
year 1925. represented by the regu-
lar District appropriation act, de-
ficiency appropriation and the third
fifth of the cash fund of $4,000. 900.
amounted to S2O.014, ,5S5.19. The ap-
preparation charges, therefore, for
the fiscal year 1925 exceeded the rev.
enue credit by s721,5Os.2O. This def
icit in revenue collection is carried
forward to the fiscal year 1926 and
is considered as an element in fixing
the tax rate for that year.
In previous fiscal years the reve-
nue. collections have been more than
adequate to meet appropriation
charges. The deficit in revenue col.
lection in the fiscal year 1925 is due
to an underestimate of appropria-
tions made subsequent to the begin.
ming of the fiscal year in deficiency
appropriation acts. The auditors es-
innate for the total of all such ap.
preparations to be made following
July I. 1924. chargea BILE against the
revenue of the District was S2,045.-
94s.20. while such appropriations as
actually made by Congress amounted
to s3,967, ,64s.29.
1926 Total S31 1927 ,791.
For the fiscal year ending June
30, 1926, the total amount appro-
priated by the District appropriation
act for that year is $31 1,827,797, from
which is deducted items chargeable
to the water fund. amounting to
$1,229,920 and items chargeable to the
gasoline tax fund amounting to sS12,-
900, leaving the amount to be paid
from revenues of the United States
and the District of Columbia $780,
7s6,S7T.
The contribution by the United
States for the fiscal year 1925 is So,
900 900, leaving the net amount to be
raised by the District of Columbia
on the basis of the amount appro
priated by the District appropriation
act for 1926 at S2O.7S5.877. To this
amount must be added the fourth in
stallment of the cash fund of $4,000,
900. or $500, 900. The estimated ex
penditure for refunding erroneousl!
paid taxes. $4,000; the estimated ex
penditure for extension of streets and
avenues. $4,000; police and fire pen
sions, 900; estimated deficiency
in appropriations for the fiscal veal
1926, S5O0,OOO, and the shortage In
revenue credits in 1928. S121. .50S2s
For all of the several purposes indi
Gated the total estimated appropria
ton charges against the District reve
nue. for the fiscal year 1926 are s23,
POI 7,385.2S.
Estimated Revenues.
The estimated revenues for the year
1925 are as follows: Tax on intangible
personal property, $2,200,000; esti
mated collections on the tax on public
utilities, banks, building associations
ETC., 81 800 900; estimated collection OF
penalties on overdue taxes, $3.50, 900
and estimated collections from various
miscellaneous sources. S2.700,0o This
leaves ,357.385.2S to be raised by
the application of a tax rate on real
estate and tangible personal property
1.-THE estimated total assessed valua
ton of taxable real estate for the fisca
year 1925 is $3.50. 900. and for tan
gible personal property sos. 900 900
making a total estimated valuation
for both purposes for the fiscal yeal
I1926 of 1865 ,000, 900. The application
of a tax rate Of $1.7o on each 800 Of
the full valuation of assessment oi
real estate and tangible personal prop
erty will. therefore. produce an esti
mated revenue Of $16.405.000, az
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