CITY VALUES.

Auckland Star, Volume LXIX, Issue 3, 5 January 1938, Page 9

CITY VALUES.

NEW ASSESSMENTS.

RISE OF £150,000.

AUCKLAND PROGRESSES

PEAK LEVEL REGAINED.

*Troing eyes out," said Mr. p. p JSotley, Auckland city valuer, this morning when his staff was deeply immersed in valuation assessments and the- revision of the rating basis f„ r over SO.OOO city ratepayers. It was the Xew Year rush "which ie> annually experienced by the city valuation department following the Christmas holidays.

V\ orkirtg under pressure with coats ofT, tho members of the valuation staff were busy checking the assessments for every property in th<i city, a task which ha , to be completed by the end of next week. Then into the moil will go 31.714 valuation notices to I>e delivered by postmen immediately after January 15.

Last year the number of notices was 31 ,552. So there lias been an increase of 1.12. due to new subdivisions in the past 12 months.

.Although Mr. Xotley was unable to give the total rateable value of the city under his latest revised figures, is several weeks may be needed to compile tins information, he said it appeared likely that the peak established in

1030-31 would be' regained, if not exceeded. New buildings had resulted in an increase of £42,000 in the rateable basis, and the overhaul of old values, ■which had been*in progress from May last until the end of the year, would add probably a further £100,000. Regaining Peak Values. "In the peak period, seven years ago, the rateable value of the city reached £2,758,022," he stated. "Then there "were five years in which decreases were recorded. The past two years have •l)rought about a reversal of the movement, aiid the value for the past year, on which the rates are now being collected, reached £2,015,085. In the five years the total decrease was 10.1 percent, or an aggregate drop of £278,995. Nearly half that amount was recovered in 1036 and 1937, and the remaining 5 per cent should be shown in the new

figures." Explaining that the rise in values had been slowest in the Avondale district, Mr. Xotley 6aid there were some striking contrasts in the, rate of progress. Point Chevalier had advanced considerably in the last eighteen months, and in the eastern suburbs of Mission Bay. Kohimarama and St. Helier's there had been a remarkable change. These three districts, which were gaining rapidly in population had reflected the combined effects of good road access by the Tamaki Drive, the nearness of popular teaches, and the benefits of an efficient passenger transport service. A general influence operating on values in all parts of the city, he remarked, was the rise in building costs. There had been a substantial increase over the past two or three years. Change in 25 Years. Glancing back to the earlier days of the city, Mr. Xotley said that in lOl'i. before the expansion brought about by the amalgamation of Parnell, Remuera,' Grey Lynn, Epsom, ,and other areas began, Auckland had an average rateable valuation of £348 14/ per acre for its 1948 acres. The area to-day was 18,700 acres, or nearly ten times as great, but much of the newer portion was rural or semi-rural. There the average valuation was greatly reduced, being down to about £147 per acre.

Mr. Xotley said property owners would be given a month after the issuing of the new assessments to lodge objections. During this period, from mid-January to mid-February, much work would probably be involved for private valuers, land agents and solicitors, in going into the city council's figures.