REVALUATION OF PROPERTIES
Effect On Rate Demands (New Zealand Press Association) WELLINGTON, July 27. In districts which had just been revalued there was a tendency to place the responsibility for rate increases on to the new valuations, said the annual report of the Valuation Department, tabled in the House of Representatives today. “If the local authority has held its rate at the same amount in the pound as in the previous year on the old valuations (or has even reduced it, but not sufficiently to offset the increase in the rateable valuation of its district) it is not correct to attribute the increased rate revenues to the higher valuations,”, said the Valuer-General (Mr J. B. Brown). “If on the other hand there has been no change in the revenue requirements of the local authority, such rate increases as do occur are caused by the fact that the valuations of all parts of the district do not move uniformly because of relatively greater progress in some areas than in others. “The reflection in the new figures of the changing level of values is, however, one of the most important functions of a general revaluation and provides a major justification for reasonably frequent revisions,” Mr Brown said. -
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Press, Volume XCIX, Issue 29268, 28 July 1960, Page 9
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205REVALUATION OF PROPERTIES Press, Volume XCIX, Issue 29268, 28 July 1960, Page 9
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