WHAT IS LAND WORTH?

Auckland Star, Volume LII, Issue 158, 5 July 1921, Page 5

WHAT IS LAND WORTH?

OBJECTIONS FROM THE NORTH.

There was some misunderstanding regarding the locale of the Assessment Court which sat this morning to hear objections to the revised valuation of "Waitemata County, Manukau County, Manurewa Town District, and Papatoetoe Town District. Several of the parties interested in the proceedings Uvent to the wrong place, so that the ; actual sitting in the Oddfellows' Hall, ■ Cook Street, was somewhat delayed.

Mt. V. G. Day was president of the Court, with Mr. E. Allan assessor for the Crown, and Mr. Leighton assessor for the Waitemata County Council.

The first objector to be heard was Malcolm Buckland, who was not satisfied with the valuations placed upon two properties at South Head, Kaipara, the total valuation being £54,018. Complainant said he valued this property at £34,305, but during the course of cross-examination by Mr. Edward Morgan, district valuer, he showed some hesitancy in saying whether he would be willing to sell at that price. He told the Court he had 6000 sheep, 800 cattle, and 52 horses on the property, being greatly handicapped by the lack of means of access. The returns from the property were exceptionally low. Mr. Morgan asked him if it were not a fact that in the making of a profit or loss on a property much depended upon the management.

Mr. Buckland: Yes, that is so. Mr. Morgan: Do you, then, suggesf>» that a property worked by a good farmer should be valued high and one worked by a bad farmer should have a low valuation 1 Mr. Buckland: Well, no; that would scarcely be fair. , After hearing evidence the Court sustained the valuation. •' PRIVATE INFOR-LATION." A witness in the last case, P. A. Monk, objected also to certain portions of the valuation of bis 4468-acre property, near Helensville. The valuation made was £20,000 eapit*l value, £15.700 unimproved value, and £4300 value of the improvements. The objector assessed the unimproved valuation at £10,520, with £9450 as his estimate of the improvements. The valuation was sustained.

J. Stewart objected to the valuation of £14S0 placed on his 46 acres beyond the Hot Springs, Helensville, and to £255 on 30 acjres just outside the township boundary. The court decreased the capital value of the smaller properties from £285 to £250, decreased the unimproved value from £210 to £150, and increased the value of improvements from £75 to £100.

G. H. McDonald (Mr. A. Denniston) objected to the valuation of £2,450 placed upon 85 acres at Kaipara he had bought from his father for £2,295. Another property of 121 acres at Kaipara, owned by J. S. and R. McDonald, one of whom was father to the previous objector, was assessed at £3,500, with improvements £1,250. The owners objected to this improvement estimate, saying that £2,328 was a fair value for the improvements. In both cases the valuations were sustained.