Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-17
ON LAND IN DISTRICT
TREBLED IN PAST SEVEN YEARS
An Increase From $6,4OO,000 In 1920 to
$19,OOO,O0O in 1927 Reported by Assessor
Personal Property Levy Doubled.

Taxes on land in the District Of Co
lumbia during the past seven years
have trebled in volume while the rev.
enue derived from taxes on personal
property during the same period has
been doubled, William p. Richards,
tax assessor, declared Monday eve
ming i'm a lecture before the Y. NJ. G.
A. class in real estate which is con-
Quoted under the auspices Of the
Washington Real Estate Board.
The huge increase in taxation on
land was shown in the following fig
ures presented to the class by Mr.
Richards: Tax on land, 1920. S6.400,
000 1928, 50, 400 900; 1926, Sl5.312 900;
and 1927, more than $l9,000,000.
The boost in the tax on personal
figures. has been in this wise: 1920.
100000 1928, $4,000, 900; 1925, S..
900 600; and 1927, 100000.
The tax data was presented to the
Y NJ. c. A. real estate class by Mr..
Richards during the course of his lee
ture on the methods employed here
in assessing property for taxation and
the many factors that enter into as
Sessment matters. Sales in a com
munity are the basis upon which as
sessments of property are computed,
but there are other factors including
rents, leases, cost of buildings, build
ing data and future utility, he said,
which enter into real estate values,
each having some measure Of infiu-
ence on the final assessment figure.
Personal Property Classified.
The assessor brought out the follow
ing points in his lecture:
Personal property may be considered
to fall under three ella sses-the first,
tangible personal property. such as
household furniture, which is assessed
only where above 81 900 in value.
Second, intangible personal property
which includes money and credits,
bonds, shares of stock, or any in
strument standing for debt or
money invested. Third. taxes on
banks, trust companies and public
service corporations, based on the
gross earnings, or what may be right
ly considered a franchise tax.
Every person, trustee and corpora
ton having the above classes of prop
erty must make a statement to the as
SCISSOR once year and swear to the
correctness of the same. Personal
property, if not returned, is assessed
by a board of three assistant assessors
from the best information they can
obtain An assessment of such prop
erty is difficult to equalize and very
often hard to collect and the admin
iStration Of such assessment in the
various States has grown so inefficient
that many of the States have abol-
ished the tax on intangible property
and substituted an income tax.
Real estate is assessed annually at
it's fair market value and the rate on
the same is determined each year to
such an amount as will afford sut-
ficient revenue to meet requirements
in appropriations made by Congress.
The assessment of real estate in the
District of Columbia passed the bill
li0n-dollar mark on July l of this
year. and such an amount exceeds
by far any other assessment on cities
having approximately 100000 people.
Rules for Assessments.
In order to simplify and expedite the
making of assessme nts 1t has heen
necessary to adopt certain rules lndl-
Gated by lines of experience and to
bring into play various scientific help.
The office. therefore. submits seven re-
ullirementS for correct assessment