NEW CITY VALUATION.

Auckland Star, Volume LXIV, Issue 82, 7 April 1933, Page 8

NEW CITY VALUATION.

DROP IN BATE REVENUE

APPROXIMATE FIGURES,

Referring to city valuations' this morning, Mr. P. F. Notley, city valuer, said it would be at least a week yet before he finalised the new figures. Before the valuation roll was deposited in the court; he had- conceded reductions amounting to £56;597, and the court had made reductions of approximately £67.000. The new valuation roll would show the lowest figures since the peak year of 1930-31, when tjie total valuation was £2,758,022, compared with this year's approximate figure of £2,555,827. This year's valuation was less than last 'year's to the extent of £123,579. Twelve months ago the total reductions made on the roll amounted to £68,861.

The following are the valuations ofr the last four vears:—l93o-Sl, £2,758,022; 1931-32, £2,748,267; 1932-33, £2,679,406; 1933-34,'£2,5.55,827.

The reduction of value for the year of £123,579 represents a loss in rate revenue amounting to £24,089, equivalent to a rate of 2£d in the £. The Mayor, Mr. G. W. Hutchison, in commenting on the position, said when the finances of the year were being reviewed and estimates framed for next year the drop in revenue owing to the new valuations would be considered by the council. The incoming council would be faced with the problem of maintaining the efficiency of essential services with a minimum of expenditure.