In some counties the base values of land in villages and small towns were given at ridiculously low prices in 1900; some are as low as from $50 to $100 per acre in towns of from 1,000 to 3,000 population. When one stops to consider that a lot 4 by 8 rods contains ⅕ acre, and that such lots in a town of considerable size range from $50 to $300 each, it is readily seen that from $250 to $1,500 per acre are not excessive figures. The figures for an adjoining county were often very high, and village values were put up to substantially full value. The result of adding percentages in 1900 was to magnify discrepancies, and little villages of from 200 to 500 population in one county were appraised at a higher rate than towns of from 2,000 to 5,000 in the next.
In 1902 the appraiser undertook to equalize all such discrepancies, and found that no hard-and-fast rule would apply. A comparison of village values, as determined by actual purchase, with the 1900 appraisal, is given in Table 5.
The 1900 appraisal for city lands, outside of Detroit and Grand Rapids, was generally very conservative or low. In some cases the figures were extremely low.
TABLE 5.—Average Price per Acre for Village Land.
Actual purchases are averaged from recent transfers. The 1900 appraisal averages are averages of prices as applied after all percentages and fixed charges are added.
| County. | Name of road. | Name of village. | Appraisal, 1900. Average per acre. | Actual transfer. Average per acre. |
|---|---|---|---|---|
| Jackson | Michigan Central | Parma | $177.25 | $1,166.65 |
| Van Buren | Michigan Central | Mattawan | 571.00 | 2,439.04 |
| Tuscola | Michigan Central | Caro | 571.00 | 733.42 |
| Oakland | Pere Marquette | Clyde | 346.00 | 333.00 |
| Oakland | Pere Marquette | Milford | 571.00 | 1,136.37 |
| Genesee | Pere Marquette | Grand Blanc | 121.00 | 327.87 |
| Kent | Pere Marquette | Lowell | 571.00 | 1,552.26 |
| Ionia | Pere Marquette | Belding | 1,000.00 | 967.77 |
| Washtenaw | Michigan Central | Dexter | 571.00 | 718.75 |
| Washtenaw | Michigan Central | Delphi | 233.50 | 2,383.34 |
| Cass | Grand Trunk Western | Cassopolis | 458.50 | 1,600.00 |
| Cass | Grand Trunk Western | Edwardsburg | 222.25 | 466.67 |
The conclusion reached by the appraiser in 1902 was that, for railroad purposes, right of way is worth what it costs to produce it. It would be just as consistent to claim that a railroad has a misfortune in having a river to cross, and that no value should be placed on the bridge which spans it, as to claim that right of way, which costs three times farm-land values, should not be valued at a higher figure than farm land.
TABLE 6.—Comparison of Valuation Figures with Actual Considerations—Comparison of Immediately Adjoining Properties, Grand Rapids, Michigan.
The prices are per square foot or per acre.
| Location. | Size of lots. | Michigan Central appraisal. | Pere Marquette appraisal. | Actual transfer. |
|---|---|---|---|---|
| ft. deep | per sq. ft. | per sq. ft. | ||
| Fulton to Island Street | 50 by 100 | $2.00 | $1.40 | |
| Island to Oakes Street | 50 by 100 | 2.00 | 1.22 | |
| Oakes to Cherry Street | 2.00 | 1.33 | ||
| Cherry Street Frontage | 130 deep | $1.23 | 1.23 | |
| Cherry to Williams Street | 50 by 130 | 1.55 | ||
| Williams Street Frontage | 130 deep | 0.92 | 0.54 | |
| Williams to Bartlett Street | 0.76 | |||
| Bartlett Street Frontage | 130 deep | 0.77 | 0.46 | |
| Bartlett to Goodrich Street | 0.625 | |||
| Goodrich Street Frontage | 130 deep | 0.62 | 0.38 | |
| Goodrich Street to Wealthy Avenue | 0.395 | |||
| Prescott to First Street | 0.25 | 0.54 | ||
| First to Second Street | 0.25 | 0.16 | ||
| per acre. | per acre. | |||
| Land on Hall Street | 1,500 | 1,359 | 3.75 | |
| North side of Hall Street | 1,000 | per acre. | ||
| Hall to Stevens Street | 1,500 | 800 | 1,351.11 | |
| On Crofton Street | 400 | 400.00 |