Riccarton rate system change?
The Riccarton Borough Council may consider a change in its rating system.
Cr Brian Harman, at the borough’s finance committee meeting yesterday, suggested that the council levy rates on the capital value of properties rather than just the land value. The borough was revalued last month.
Cr Harman said the present system was unfair because properties of similar values did not attract similar rates.
Riccarton now levies rates on the land value of
properties. This does not include the value of improvements to the property. The capital value
includes both the land value and the value of improvements. The borough’s treasurer, Mr Lyall Matchett, said that the ad hoc rates were all levied on capital value. This tended to even out the
rates paid on similar properties. The committee decided to reconsider the issue when more information
about present values was available.
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Press, 16 September 1986, Page 4
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146Riccarton rate system change? Press, 16 September 1986, Page 4
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