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You may be charged a minimum fee of $75.00 for each non-returned or lost item. Theft, mutilation, or defacement of library materials can be causes for student disciplinary action. All materials owned by the University of Illinois Library are the property of the State of Illinois and are protected by Article 16B of Illinois Criminal Law and Procedure. TO RENEW, CALL (217) 333-8400. University of Illinois Library at Urbona-Champaign When renewing by phone, write new due date below previous due date. L162 The Somers Unit System of Realty Valaation As applied to the assessment of land and buildings in Spring- held, Ill,, for the quadrennial assessment of 1911. Issued for the information of the public by BURKE VANCIL, Assessor. The Somers Unit System of Realty Valuation is founded upon the law of constant effect of depth on the value of city sites. The Somers Unit System of Realty Valuation consists of the mathematical formulae and mechanical devices for using that law so that real and relative* values of actual sites may be ascertained. THE SOMERS UNIT SYSTEM OF i REALTY VALUATION. ■ 'llie system is known as the Somers Unit System of Realty t Valuation. It was invented and perfected by Mr. W. A. Som¬ ers, after many years of study and consideration of land values in many cities of this country. The Somers Unit System makes it easy to exercise judgment of values of land in cities, and makes certain the application of that judgment to the varying conditions that actually exist. Under this system the judgment of the value of land is expressed in the value of a ^‘unit foot.” A unit foot is a frontage of ground one foot wide and 100 feet deep, located in the central section of a block at a distance from any street corner, or other influence that might affect its value, other than that which it obtains by reason of access to the life and business of the city through its own frontage. By confining the expression of judgment of value to a unit foot, the subsidiary factors of value—size and shape—are at first eliminated. The mind of the person whose duty it is to express a judgment as to value is thus ealled upon to take into consideration the one factor of location. By comparing the street where the judgment is to be expressed with others of known values, it is found that the judgment is more easily, and, therefore, more accurately, formed; it is much easier for 'a per¬ son to compare one side of a street with the other, a section of a street with another section, one street with another, than it is to compare a lot of one size and shape on one street with an¬ other lot of another size and shape on another street, even though the two are in the same neighborhood. When the value of a unit foot has been fixed on the four sides of a city block, the exercise of judgment of the value of land in that city block is complete. The Somers System pro¬ vides a meth'od of applying that judgment accurately and scien¬ tifically to all the land in that block. The factors that affect the value of a given piece of real estate are three in number—location, that is, the kind of a street that the lot fronts on—size and shape. In addition, some lots have additional factors; they may be at or near a corner, where an additional value exists by reason of that fact, or they may have alley frontage, which gives an added value. The Use of Units. The maps used show only the streets and blocks, without ^ any other lines or marks. In the streets in front of each block is written the value of a foot front 100 feet deep, uninfluenced by any corner or alley effects. The following diagram will illustrate: (Diagram No. 1.) 0» \ U) H H ST. SlOO ST. Having fixed the units on the four sides of a block it is then possible to figure the value of individual lots. Some are longer than 100 feet, and some are shorter. Hence, it is advisa¬ ble to use some rule. The following curve is a scale arrived at by tabulating the opinions of many 'owners of land: 2 4 (Diagram No. 2.) PCRCENTAOE QF UMIT VALUE FOR LOTS OTHER THAN 100 FEET DEEP. Varying Depths of Lots. The bottom line of Diagram No. 2 represents the lot-depth. To use the curve for a lot 80 feet deep, find the 80-foot line, then follow up the perpendicular line to the curve intersection; this point, carried out to the left, will give the per cent of the unit which produces the frontage value for an 80-foot depth. This ‘‘curve of value,” when reduced to figures. is as follows for the principal depths: Per Cent Per Cent Feet Deep. of Unit. Feet Deep. of Unit. 0'. 120. .107.05 10 . . 26.00 130.. .110.50 20. . 41.00 140. .113.00 30. . 54.00 160. .116.80 40. . 64.00 170. .118.40 50. . 72.50 180. .110.80 60. . 79.50 190. .121.00 70. . 85.60 2:10.. .122.95 80. .. 90.90 220. .123.80 90. . 95.60 230. .124.60 100. .100.00 240. .125.35 110. ..104.00 250. .126.50 Of course, for the actual work of figuring lots, a table, showing the variations for each foot of depth to that of 700 feet, is used. 3 PBRCenTAOB OF VALU6 Lots at or Near Corners. The process of com])nting the values of lots at or near cor¬ ners from the ascertained values of units of contributing streets, is, by reason of the many figures employed, rather complicated to describe. The enhancement of value at corners is universally recognized. The enhancement is commonly called ‘‘corner influence.” Corner influence extends either way from the corner itself, growing gradually less as the distance from the corner increases, until it disappears. This point of disappearance is a greater or less distance from the corner, and always in proportion to the effect in combination of the values ( of the units of the two contributing streets forming the comer. For practical purposes, an imaginary corner lot, 100 feet square, is erected at the corner to be computed, and this imaginary cor¬ ner lot is divided into 100 squares, 10 feet square each, and each numbered in regular order, as shown in this diagram: h- O O Ll_ h- Z= o or Ll_ cr UJ a_ o o (Diagram No. 3.) 10 20 30 40 50 60 70 80 qo 100 q iq 2q 3q 4q 5q 6q 7q sq qq 8 18 28 38 48 58 68 78 88 qs 7 17 27 37 47 57 67 77 87 q7 6 16 26 36 46 56 66 76 86 qe 5 15 25 35 45 55 65 75 85 85 4 14 24 34 44 54 64 74 84 q4 3 13 23 33 43 53 63 73 83 q3 2 12 22 32 42 52 62 72 82 q2 1 II 21 31 41 51 61 71 81 qi STREET UNIT 3200 PER FRONT FOOT Mr. Somers has devised a method of arriving at the value of each of these squares under all the possible variations of relation between the values of the two streets forming the cor¬ ner. To illustrate, with the values given in Diagram No. 3, where the unit values are $200.00 and $100.00: 4 » i Square No, 1 is worth, “ 11 “ “ 21 “ “ . (( 2 ' ** o 4 $58G 5G4 552 474 425 386 iuid so on for eiu'h. of the squares; the values shade away from No. 1 in every direetion, and always in proportion to the effect of one side value on the other. By diagTamming any actual lot upon this imaginary corner lot and adding up the values of all the squares and parts of squares inside the actual lot lines, the value of the actual lot is ascertained. If there is a lot 30 feet wide at the corner fronting on the best street and run¬ ning back 70 feet, we find included in this lot are squares from 1 to 7, inclusive; 11 to 17, inclusive, and from 21 to 27, inclu¬ sive ; the combined value of these 21 squares is the value of the lot, and is that part of the total corner infiuence produced by the intersection of a $100.00 street and a $200.00 street that belongs to the owner of a lot 30x70 feet at the corner. The remainder of the influence, whatever it may be, is thus left to be apportioned to other owners whose properties are somewhat enhanced because they are near the comer. Where a lot is irregular in shape, its actual lines are dia¬ grammed, and the result ascertained in the same way as before described. For instance: (Diagram No. 4.) 1- o o li_ 1 — 10 20 30 40 50 r-- 60 70 80 qo 100 1 21 o q iq 2q 3q 4q 5q 6q 7q sq qq _ or Li- 8 18 28 38 48 58 68 78 88 qs or U_J o_ 7 17 27 37 47 57 — 67 77 87 q7 o o 36 46 56 66 76 86 46 5 15 __ 25 35 75 85 45 1 — 4 14 24 34 44 54 64 7 4 84 44 1— 3 13 23 33 43 53 63 7 3 83 43 U-J lU or cn 2 12 22 32 42 52 62 7 2 82 42 1 II 21 31 41 51 61 7 1 81 qi STREET UNIT S200 PER PROMT FOOT, 5 To the total value of all the whole squares within the actual lot lines must be added, in this case, the values of the parts of scpiares Nos. 6, 16, 26, 35, 36, 45, 55, 65, 71, 72, 73, 74, and 75. Adding Percentages for Corner Values Inaccurate. The old method of adding a given percentage to the corner lot is very faulty, and results in valuations that do not fit the facts. There is no known percentage that, when added, will produce the proper valuation at any given corner; and, as each corner differs in some way from every other corner, there is absolutely no given percentage that will fit the conditions at all corners. For example, under the KSomers System, 100x100 at the corner figures as follows: (Diagram No. 5.) STREET LIMIT SlOO PER PROMT FT. CORMER LOT mSIDE LOT 100X100 100X100 5 -- 1 1 . 1 LLJ ULl OC An inside lot, 100 feet square, on a street with a unit value of ."^100.00, is worth $10,000. If this is made to cpme at a cross street with a unit value of $20.00, $40.00, $60.00, $80.00, or $100.00, as the case may be, the values will be as follows ; Value per foot Value of Value of Value of Percentage main cross corner. inside of street. street. lot. increase. $100 per foot.$ 20 $11,185 $10,000 12 100. “ “ 40 11,780 10,000 18 100 “ “ 60 12,560 10,000' 25 lO'O “ “ 80 13,693 10,000 37' lO'O “ “ 100 15,10'0 10,000 51 » An inside lot, 50x100, fronting 50 feet on a street, with a unit value of $100.00 per front foot, is worth $5,000. A corner lot formed by a street of the same value and by side streets. i 6 - (Diagram No. 6.) STREET UMIT SlOO PER FRONT FT. 1 or 0 CORliER IM5IDE 4 - LOT LOT 7 - 50X100 50X100 3 _1 UJ LU or \n with a unit value of $20.00, $40.00, $60.00, $80.00, or $100.00 per front foot, respectively, will be valued as follows: Value per foot Value of Value of Value of Percentage main cross corner. inside of street. street. lot. increase. $100 per foot.$20 $ 6,071 $ 5,000 21 100' “ “ 40 6,589' 5,000 31 100' “ “ 60 7,278 5,000 45 100 “ “ 80 8,268 5,000 65 100 “ “ 100 9,500 5,000 90 (Diagram No. 7.) STREET UMIT SlOO PER PROMT FT. » 1 a: CORMER LOT mSIDE LOT 0 * + 100X50 , 100X50 ILI UJ QC An inside lot, 50x100 feet, fronting 100 feet on a street, with a unit value of $100.00, is worth 721 / 2 % of the unit, or 7 $7,250. Change this to a corner lot, where the cross street has a unit value of $20.00, $40.00, $60.00, $80.00, or $100.00, and the values are as follows: Value per foot * Value of Value of Value of Percentage main cross corner. inside of street. street. lot. increase. $100 per foot.$20 $ 7,805 $ 1,2m 7 lO'O' “ “ . 40 8,062. 7,250' 11 100' “ “ . 60 8,402 7,250 16 100' “ “ . 80 8,8'89' 7,250 22' 100' “ “ . lOO 8,500 7,250' 31 The variations in resulting percentages, as shown by these few examples, illustrate the futility of the percentage plan of valuing corner lots. Effect of Alleys. The effect of alleys upon abutting properties is to enhance their value. Unddr the Somers System the land of an alley is first valued as if for valuation as a city lot. The total land value of the alley is divided by the number of feet of abutting lots upon every part of the alley. This resulting “alley unit” is added to the normal land value of every foot abutting upon the alley. The Various Tables of the Somers System. The Somers Unit System is made up of corner lot tables — a different table for each combination of unit values—-as well as zone tables for figuring irregular shaped lots, tables to com¬ pute ‘ ‘ overlap ’ ’—that is, the place where a high value from one street overlaps a lower value from another street—and plans for figuring lots at or near obtuse and acute angles. To describe all of these would be too voluminous for the purposes of this pamphlet, and such a description is, therefore, omitted. Buildings Valued on Square Foot Basis. In appraising buildings, we have used blank cards, which, when properly filled in, are so comprehensive as to cover com¬ plete descriptions and dimensions of all structures. From these descriptions may be computed the present cost of new re¬ production on the square-foot-of-floor-space area basis. From the reproductive cost of each building a depreciation is de¬ ducted, which depreciation is the judgment of our experts as to the general average obsolescence, from the new cost, consider¬ ing wear and tear, and the general condition of each structure, UNIVERSITY OP ILLINOI9-URBANA