Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-08
Assessor Estimates Total
Figure Will Near $1,200,-
600, 900 Mark Next Year.
HEARINGS FOR REVIEW
WILL CONCLUDE JUNE 3
increase Evenly Divided Between
Business Area and Outlying
Residential Districts.

The assessed value of real estate for
the coming fiscal year, beginning July
/, will be raised between $40, ,OO0, 900 and
50,000,0 900, according to estimates pre-
pared today by Tax Assessor William
P. Richards.
The total assessment, Mr.. Richards
said, will approach the $1,200,o0o,00o
mark. The assessment for the current
fiscal year was $1,14o,0o0,00O.
The exact amount of the increase will
not be known, however, until after June
8, when assessments books for the new
fiscal year will be closed to appeal and
review. The equalization and review
now under way. however, is not expected
to change the estimate materially.
Increase Evenly Divided. 20
The increase, which will be reflected
in tax bills for the 1880 fiscal year, Mr.
Richards revealed, is about evenly dis
tributed between the business area and
the rapidly growing outlying residential
sections. The phenomenal raise, how
ever, has been along Connecticut ave-
nue. north of the So-called Million Dol
lar Bridge, where, Richards said, land
values have increased greatly as a re-
suit of numerous apartment building
operations and coming changes.
The assessment in the business area,
Mr.. Richards said, will be raised ap-
proximately S10,0O0,000 one-half on the
Improvements and the other half ON
land. A like increase is estimated for
the outlying sections of the Northeast
and Northwest, where building activity
has been brisk in the last year.
To this SIC, 1000, 900, Mr. Richards be-
lieves, will be added 10000 900 more on
new buildings now under construction
and old buildings to which additions
are being made.
No Particular Section Hit.
Mr.. Richards explained that no par
ticular section of the business district
is affected by the new assessment, but
that the increases have been general
over the entire area, which he said en-
braces the territory bounded on the
south by the Mall, on the north by U
street, on the east by North Capitol
street and on the west by Twentieth
street.
The higher assessment for the new
fiscal year, Mr.. Richards explained, is
about 4 per cent increase over the
total valuation for the current fiscal
year, which has been the normal incre-
ment since the World War.
As an illustration of the increase in
value Of the real estate, the assessor
cited the case of downtown business
property which sold in 1908 for S449,-
500 and changed hands in 1926 at
81 100000. The assessed value of this
property Is $l,300,000.
Start on 1881 Assessment.
In the last 10 years Mr.. Richards said
the total assessment has jumped ftom
$414 $4,000 to $1,140, ,000, 600. The
assessment was made on two-thirds full
value, however, until 1923, when a full
value assessment was directed by
Congress.
With the 1880 assessment completed,
except for review of the appeals, the
tax assessors Office has already begun
work on the 1881 assessment. Maps
have been drawn for the preliminary
details. These maps show the various
squares and lots, and on them will be
recorded the 1880 assessment together
with the selling price of any property
whose ownership is transferred during
the year.