The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-03-28
COUNTY CUTS
TAXES 50 PCT.
IN five YEARS
City Also Reduces Levy
Greatly, and Both Pare
Valuations Is Pct.


Hendersonville and Henderson
county has been very much I'M
nroYed in the past twelve months.
The distress" property has prac-
t;cally all been sold and is now in
firm hands. The large number OF
properties owned by mortgage
companies is rather closely held at
the present time on account OF
the mortgage companies having
been so materially helned through
various governmental financia!
channels, and 20 a large extent
these properties are either of the
market temporarily or the price
has been held rather firm.
The real estate situation mas
probably been helped also by the
fact that the Home Owners Loan
corporation has refinanced
great many other homes which
might have been sold under dis
tress conditions.
Another interesting angle TO
the STRENGTHENING Of rea! estate
might De attributed rather deti-
nitely 20 the very greatly improv-
ed conditions as 20 the taxes IN
the count, and in the city. Five
years aEo the tax rate in Hender-
son county was 81 on valuation
OF s29,6l5.737. and in 1884 the
county has a rate OF 95 cents on
a valuation Of S20.66l.Q97. The
city fve years ago had a rate OF
Sl.99 OF valuation OF Sl0.629.-
I31. and in 1884 has q rate OF
$3.50 on valuation Of $500
OeO. In other words. the tax
rate in the county has been re-
duced more than half and IN addi-
ton TO that. the values have been
cut 25 per cent on each individual
property. This means that a home
valued a. $4,000 in 1928 would
Tow De valued a. $4,000, and in
the county would have total tax
OF $3.50 as against taxes IN 1928
OF $50. 4 home in the city valued
in 1928 al $4,000 would have a
city tax OF $50, and in 1881 would
De valued a. $4,000 with a total
tax of SIS. 4 city home, there
fore. valued in 1928 at $1,000
would have had a total city and
county taxes Of 800. and that
same home now would have a TO-
tai tax of S76.5O. which is less
than half. This single fact has
made real estate in Henderson
vile much more attractive as peo-
pie have begun 10 realize this
wonderful reduction in spite OF
very hard conditions.
The rental situation in Hender-
Sonville is very much improved
also as there are probably as few
vacant houses as a. any time in
the past five years. To the casual
observer there are probably a
great many vacant homes in the
city. but a great many Of these
are simply summer homes main
tanned by people living in other
cities who occupy them during the
summer season. These summer
homes represent q splendid part
OF community life and, certainly
in no way detract from the city
when they are recognized in their
true light. There are also, too,
few cases OF homes which are NOT
IN condition 70 be occupied and
should not enter into the total
number % vacarc homes. The
facts are -Ea1 the number Of va
cant homes n Hentersonville is
rather limited and the owners are
already anticipating very soon an
increased rental as conditions IN
prove.
The number of homes sold in
Hendersouville during the past II
months 81 rather astonishing. even
60 real estate men, when they are
listed IN one long column. Some
OF the large estates in the county
have been sold. including the Nc
Adoo place, which is probably one
Of the oldest and hest developed
estates IN North Carolina. Other
large farrl properties have been
sold 60 cash customers from every
section Of The county. A number
Of handsome homes around the
city have been bought for cash by
prominent residents Probably in .
no other year IN the history Of
Henters0nville have there been
more prominent, substantial citi-
zens move to the community.
They have been. practically ia ey-
cry case. cash buyers and al Of
A class az people who have been
successful in their own home COM
m4nisies and are, therefore. able
20 add much 90 the citizenship of
CUR section.
The Chamber of Commerce has
been responsible for great deal
OF this interest IN OUT section. and
inquiries are received at their Of
fee almost daily, coming from ev.
cry section of the United States
/ great many are asking for IN
formation about this section with
a view TO buying 4 permanent
home.
KNOWN IN MIDDI EWE