8. Value of home, if owned, or monthly rental, if rented.
141. Column 8. Value of home, if owned, or monthly rental, if rented.
-If the house or apartment is owned, as indicated by the entry "O" in column 7, give in column 8, on the line for the head of the family, the current market value of the home as nearly as it can be ascertained. Unless the house has been recently purchased it will be necessary to estimate its value. The estimate should represent the amount for which the home, including such land as belongs to it, would sell under normal conditions-not at forced sale. The assessor's value, on which taxation is based, is not generally a safe guide, being usually below the market value. Make it clear to your informant that the values returned on the census schedule are not to be used in any way in connection with taxation and are not open to public inspection.
142. If the home is rented, as indicated by the entry "R" in column 7, give in column 8 the amount paid each month as rent, or one-twelfth of the annual rental, in case payment is not made monthly.
143. If no actual rental is paid, as where a workman receives the use of a house as a part of his wages, give in column 8 the estimated monthly rental value of the house. This estimate may be based on the amount of rent paid for similar houses in the neighborhood.
144. For a farm family (indicated by the entry "Yes" in column 10) make no entry in column 8. The value of the farm home is given on the farm schedule.