Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-29
ASSESSOR TELLS
CLASS ABOUT TAX
Personal and Realty Levies
Bring City s20,O00,O0o,
Richards Claims.

Taxes on real estate and personal
property produced 10000 GOO. or APP
proXimately Sc per cent of the total
revenues of $4,000 900. during the
fiscal year 1a2526. which ended June
80 last. William r. Richards. District
tax assessor. told the real estate ella s.
Of the Y. NJ {. A. at its session Mon
day. The real estate tax raised nearly
twice as much revenue as the per
sonal property assessments. he said.
Mr.. Richards lecture. in part. fol
lows:
Personal property may he con
sidered to fall under three classes.
The first. tangible personal property
such as merchandise. boats, ma
chinery and household furniture
household goods are only assessed
where above 81 900 in value. second,
ints ngihle personal property. which
includes moneys and credits. bonds,
shares OF stock or any instrument
standing for s debt or money invested
third. taxes on banks. trust companies
end public service corporations, based
on the gross earnings, or what may
be rightly considered a franchise tax,
To Pass Billion Mark.
Real estate is assessed annually at
fits fair market value. and the rate on
the same is determined each year to
such an amount as will afford Suffi-
cient revenue to meet certain require.
ments in appropriations made by Con
EreSS The assessment of real estate
In the District of Columbia will pass
the billion-dollar mark on July l, 1927.
and such an amount exceeds by far
any other assessment on cities having
approximately a halt million people
In order TO simplify and expedite
the making Of assessments it has been
necessary to adopt certain rules indi
Gated by lines of experience and to
bring into play various scientific
helps. The Office. therefore, submits
seven requirements for a correct as.
sessment of real estate: ID Maps, Civ
ing boundary lines, area and dis
tinctive numbers to each holding
(2) Descriptive data of buildings, Civ
ing character and dimensions, cubic
feet, cost and other information. ~
Sales under normal conditions. offers
and monthly and yearly rentals. a.
Unit values for lots of different depths.
(5l Factors for various classes of
buildings, that is, the value per cubic
foot or the value per square foot of
floor space. (6) Assistants with ex-
perience and knowledge arising from
many years in office and field work.
"a Assessors with experience and
1T is generally conceded that the
value Of property, improved to it's best
advantage, is disclosed by the CAPT
talization of a fair rental. This would
be extremely simple If it were not
Ciiff1cult matter to consider the sufici-
ency of the rental and what percent
age to use in capitalization. Sales are
the bed rock upon which assessments
are built.
Many Factors Considered.
Cost of construction, rents, leases.
condition and adaptability of improve
ments, all enter into the fair market
value of real estate. Sales are con-
crete expressions of the value of these
elements. When sales are missing
values are determined by an exami-
nation and comparisons of any of the
above elements.
Although the assessor may have
data derived from multitude of
sources. still the most accepta BILE guide
comes from sales made under condi-
tons hereinbefore explained. Sales