REVALUATION OF CITY

Press, Volume XCVI, Issue 28399, 4 October 1957, Page 12

REVALUATION OF CITY

Work To Begin Soon A rating revaluation of Christchurch will begin in the next few weeks, under legislative provisions requiring a revaluation every five years. The present valuation became effective on March 31, 1955. so that the new valuation will not come effective until March 31, 1960. The increase in valuation in 1955 was approximately 100 per cent, over the previous 1950 figures. but those 1950 figures were on a land-sales basis stabilised at December, 1942. The anticipated increase in the new valuation will be comparatively small, although sales of vacant land show a marked increase over the existing roll figures, and this trend will have to be reflected in the revaluation. Officers of the Valuation Department will shortly begin the field work, for which purpose all properties within the city boundary will be visited. In order to complete the job. involving 45,000 assessments, by 1960, it is necessary to make a start now. Should there be any fluctuation in the market-price level, however, it may be necessary to make adjustments, so that the final figures reflect the trends apparent up to 1960. Although the majority of householders accept the valuer’s request for permission to inspect properties, all field officers of the department carry authority cards which they will show on request. The northern areas of Christchurch will be the first to be inspected, and work in the other including the central area, will begin as soon as staff which have been engaged in other areas become available.