THE VALUATION QUESTION.

Press, Volume LXIII, Issue 12936, 16 October 1907, Page 8

THE VALUATION QUESTION.

(PBBSS ASSOCIATION TEtWJBAM.) WELLINGTON, October 15. -'• Speaking during the <leb«te in the • Legislative Council on the Lend and Income Tax Bill thie afternoon. Mr T. Kenredy Macdonald said that ' the whole tondoncy during recent years i,vm to cut up properties, end to ac<ceut low deposits from. 6 to 15 per cent If the value of the properties had been truly stated in the past, "there would have been no ueed for a ■'hoavV «mdu«ted tax to-day. The " Valuation Department hid not a ttue eenee of ite responeibi''litiee/in connection with valuing. Hβ ventured to say that there was not .one large estate which would not bring '25 to 60 per cent, more thuu the value stated in the books of the Department. Hβ could go through Wellington City end raise the values a qunrter of a ' million. There wore thousands of ;oae« in this country whore men could , get 25 to 50 per cent, more for their " "properties than thoy were valued at, »nd that on tho basis of what would bo . practically cash transactions. r 'Mr Cnllan snul ho hoped that the -; Government would take no notice of the etotemente made by the last "iepoaker in rcßnrd to valuations. ' Mr Luke differed from Mr Macdon- ' »ld In regard to vnluations. As n mittor of fact, property was valued .up to the highest point, and the danger was that tho high figuree could not be \ realised in the caso of a crisis.