CITY VALUATION.

Press, Volume LXV, Issue 19622, 18 May 1929, Page 18

CITY VALUATION.

COMPLETE FIGURES NOT AVAILABLE. LOCAL AUTHORITIES IN A quandary. Although all possible hast® is being made by the Valuation Departmen with the tabulation of the reva ua ion of the City of Christchurch, the work is of such a character that the greatest care has to be exercise a it cannot be speeded up beyond a certain point. The tabulation will »°t be completed for some time yet ana in meantime it seems likely that c-omp cations may arise. . ♦ Two local authorities, the Christ* church Drainage Board and the \\ aimakariri River Trust, are upon tlie eve of striking their rates and tor certain portions of their districts they strike their rates on the City valuation. The question arises as to which valuation they will strike their rates on—the valuation that is actually in existence, that of last year, if possible brought up to date, or the revaluation. Most people are aware of thft position which arose in Riccarton borough owing to the rates for 1928-29 being struck on the old valuation, a new valuation coming into effect shortly afterwards and the rate being collected thereon. Tt is contended that matters will right themselves automatically, the overplus collected being reflected in a reduction of the rate of levy for the following year. It will be interesting to note how the local authorities above-mentioned propose to avoid the recurrence of Riocarton's experience. Technically, the valuation roll is not complete until the adjustments necessitated by the decisions of the- Assessment Court have been made. So far there is no information as lo the date of the sitting of that Court. It is probable, however, that the procedure followed on a past occasion will be adopted on this occasion—the rates; will be struck on the valuations in the roll .prior to the sitting of the Assessment Court and any adjustments necessary will be made afterwards. As the total of the revaluation of tho City has not been east up yet. statements as to the percentage of increase are more or less speculations. It is interesting to note the increase which was recorded eight years ago when the previous complete revaluation of the City was made. The figures for the year preceding and the year following are given in the following table Capital Unimproved Year. Value. Value. £ £ 1320-21 ... 13,185,188 5,79'15i0 , 19*22 ... 18.403,026 8.582,159 1923 ... 19,758,481 8!743.727 The increase as between 1920-21 and 192-2 is £5.217,840 in the capital value and £2,789,349 in the unimproved value. The figures are taken from the City Council's Year Book. It should be noted that the City was enlarged by the inclusion of Spreydon in 1921, Woolston in 1922, and of Papanui and Bromley in 1923. The valuation of the City during the past five years has been as follows: Capital Unimproved Year. Value. Value. £ £ 1924 ... 20,609,094 8,818,343 192-5 ... 21.240.920 8,861,766 1926 ... 22^199,017 8,895,504 1927 ... 22,193,395 8,867,919 1928 ... 23.521,296 8,894,514

It is noteworthy that in 1927 the valuations were lower than in 1926.