Evening star., 1941-05-05
Overton
Continued From First Page)

tax situation by the Bureau of Gen.
sus, which reported that residents
Of the city of Washington paid
higher taxes than the average in the
10 cities nearest Washington's size
in the United States.
II refer you to House Document
108, Seventy-sixth Congress, first
session, District of Columbia tax
study report made to Congress pur-
suant to act of May 16, 1898. and
submitted January is, 1899. The
report was prepared blythe special
staff under the direction of Mr..
Colin r. STAN, chief of staff, joint
committee on internal revenue tax
alton, and Chester B. Pond. director
of the District of Columbia tax
study, commonly referred to as the
Pond report.
Sales Prices Under Assessments.
This report shows that taxes on
property represents 6783 per cent of
the total taxes levied in the District
of Columbia, as compared with 61.76
per cent of IL selected States and
GAIT per cent of the 48 States OF
the Union.
The joint committee above men
toned found that on investigation
of 9,795 sales of real estate in the
District of Columbia, covering the
period 1890 1886, the total sales price
was s131 ,90l ,917. as against an as
sessed value of $136,715,690, or an
average ratio Of 1o4 per cent assessed
value to sales value.
The Pond report recommends
that the maximum rate on real es-
tate and tangible personal property
should be SITS per 500 assessed val
uation.
An examination of the 1912 Dis
trict of Columbia budget shows An
estimated total revenue from all
sources of general fund taxation of
s33 $40 900. and a real estate tax
yield of $22, 800 900. Therefore, the
real estate pays approximately two
thirds of the total general revenue
taxes of the District.
The District of Columbia budget
also shows that the real estate con-
u lDutCS w pCl SSiil VI IllS tOtdl SCil-
eral revenue account.
SO Sales Cited.
"Mr. Dent, assessor of the District
Of Columbia. recently examined the
recorded sales of property in the
business district of Washington, en-
braced in the area east of Rock
Creek and south of Florida avenue
for the period 1898 through 1910.
There were a total of 88 re-
corded sales, aggregating $l2,652.-
1856, conveying property of which
the total assessed valuation was
| $l3, ,289,3l0. The total assessed val
uation was, therefore, los per cent
of the total sales value.
Furthermore, during the same
period, the assessors ONCE found
that there were SO sales of large
apartment buildings in the District
of Columbia. ranging in units from
| 13 to q maximum of 140, and in sales
price from q minimum of S25, 900 to
q maximum of $560,000.
"A comparison of the sales price
Of these apartments with the as
sessed valuation thereof shows q
ratio of 106 per cent Of assessed
valuation as against sales price. The
total assessed valuation was s7.s22,-
241, and sales price was S7,367, ,375
Other Figures.
1.-THE same investigation discloses
that during the same period, 1888
through 1910, the sales of go large
residences IN the old city area, repre-
sented total sales price Of $1,912.6 $40
as against an assessed valuation OF
$2974,7l7.. or an assessed valuation
Of IS per cent in excess of sales
value.
Also. q comparison OF sales prices
Of six large ofiice buildings in the
downtown section with the assessed
valuation shows a sales price Of ST.
| 272, 900, as against an assessed valua-
ton of $l,4ss,2 ,22s. or an assessed
value of II per cent in excess Of
sales value"