FREEHOLD QUESTION.

Auckland Star, Volume LX, Issue 61, 13 March 1929, Page 12

FREEHOLD QUESTION.

TAUMARUXUI'S PROBLEM. (From Our Own Correspondent.) TAUMARUNUI, Tuesday. At a meeting of the Chamber of Commerce a report prepared by the members of the executive on the subject of the freehold of the town sections was presented to the meeting. The report stated that in view of the strenuous efforts being made by Te Kuiti property holders to obtain a review of the freeholding valuations in their borough it was thought that the time was opportune for Taumarunui also to request the Government to reopen the matter. It was recognised that the question of a Government revision of freeholding values was an extremely difficult and controversial one, but the reasons for dissatisfaction to-day were the same as when the freeholding was acquired. The protests then made against allegedly excessive values had been borne out by the trend of events over the last three years. As a commencing basis the following salient features should be taken into consideration in assessing the values of native owners' holding in the hind: — (1) Unexpired loan moneys, which are tantamount to a charge on property, should be deducted from the Government valuation in order to arrive at tlie natives' interest, and (2) prices paid for goodwill of leasehold .should not be adopted as a basis on which to assess land values.

Mr. A. J. Langmiiir said that when the Government purchased the land of tiie town for about £1.10.000, the valuation was then only £19.000. The native* had contributed very little toward the increased valuations. Mr. M. H. Wilks and Mr. C. A. Bole* both contended that the land values were fictitious and that a revaluation of the town was most necessarv. Mr. Boles moved that a meeting of deferred license holders ot land oe convened. Mr. T. P. Davis seconded the motion, which was carried. It »a.- further resolved that the executive committee of the Chamber of Commerce be empowered to fix the date of the proposed meeting.