RATES REDUCED.

Auckland Star, Volume LVIII, Issue 128, 2 June 1927, Page 8

RATES REDUCED.

BY PENNY IN THE POUND.

NEWMARKET'S DECISION. TO SAVE ON TtOAD MAINTKNANCK. The Newmarket Borough Council, at its meeting last night, decided to reduce their consolidated rate liy a penny in the pound. In recommending this reduction, and in presenting the annual estimates, the Legal and Finance Committee reported that the estimates had been very carefully framed and subjected to a very close scrutiny, with the result that the committee was of opinion that if the operations during the year were administered on sound lines, so that a minimum amount of unforeseen expenditure was incurred, the figures submitted would be found to be a reliable guide and a reasonable indication of the position at the close of the year. A feature of the statement was the fact that it had been found possible to recommend a reduction of one penny in the pound on the consolidated rate. For the past ten years this rate had been maintained at the same figure, viz., 3/4 in the £, and despite the very heavy commitments in the matter of loan expenditure that had been incurred during that period it was satisfactory to note that the council hail avoided any increase in this rate. The success of last year's financial operation*. and the reduced charge for maintenance as a result of the permanent roading policy had made it possible for the council to oensider the question of tion in the rate. The satisfactory position in which the council was situated was reflected in the figures appended, which showed that a credit balance of no less than £2008 was estimated at the close of the vear.

Mr. G. E. Smcrdon, chairman of the committee. said that a reduction of twopence in the. pound had* been contemplated, but members of the committee wished to l>e a little conservative when they resolved to recommend the penny reduction. However, it was possible that next year the council would be able to reduce the rates by a further penny. Despite the reduction decided upon the borough would adequately maintain essential services.

The estimates, including the rate reduction, were then approved unanimously by the council.