BOROUGH OF MILTON.

Bruce Herald, Volume X, Issue 991, 12 March 1878, Page 6

BOROUGH OF MILTON.

_ The Assessment Court' was' held in- theCouncirChambers, at ll o'clock. -'' \ Mr Brookes appeared 'as valuer. " a ■■''■ ; The only' objections made were by the managers of the two local Banks. . ( j National Bank j rated at £300. Vincent Adolphus Pyke, sworn — I am mauager of the National Bank, Milton. Bank premises have been valued for the|past three years in the Bank's books at £1950. If the Bank were empty I consider that from £128. to £150 would be a fair rental at the pres.ept time, I ,do not think it could be let. I was offered £18..a year for one of the adjoining stores. I would not accept it. These stores have been tolet all along. I have not had a better offer. The stores are known to be to let, as they are vacant. ' '•'.<■*'■■'.'. ' Robert Richard Jones, sworn — Am intimate with the values of property in Milton.. Have property myself, and have 'been here many years. I think the Bank jjproperty might fairly be let at £200 a year, "ifVacant'now. Hotels and other large buildings are let about that price. The Council Chambers realise £150 a year. The Bank stores are worth about £40 a year each. Reduced to £160, or with stores to £240, from £300 in all, .■ , , , Bank of New Zealand, rated at £330. Alfred Jones, sworn— Am manager- of the Bank of New Zealand, Milton. The Bank's premises are rated at £330. . I think £300 a fair rateable value, less the £60 allowed on town properties, or 20 per cent. on the rateableiyalue. : m • ;-, m „; i. V ,R'..; ; R. Jones, sworn— Enow the Bank of New Zealand, and land consisting of f-acre. Consider £300 a year at the least a fair rental for rating purposes, I mean any investor might buy at that .price, and get,a fair return for, his money. Property is reduced in value here at preseut. m His Worship did not think the valuer was to blame for rating high. '"-' '■' A. Jones— We. have been rated at £396 a year, which' I consider- too much. "Reduced to £240; m;. -m .< y