Mt Herbert County values revised

Press, 9 December 1988, Page 16

Mt Herbert County values revised

Valuation New Zealand has completed the 1988 revision of values for Mount Herbert County, said the district valuer, Mr lan Bunt. The values have been revised as at July 1, 1988, and notices showing the new values are being posted to all property owners in the county. The values in the county were last revised

at July 1, 1986. The capital value then was $76,853,000, compared with the new capital value at July 1, 1988, of $95,379,000.

The land value has moved in the same period from $34,543,000 to $46,802,000 and the value of improvements from $42,310,000 to $48,577,000.

Mr Bunt said the new values were based on the

most recent sales evidence. The sales were inspected and analysed before and during the full inspection of the county, and these included in the case of farms a number from outside the county itself. The sales reflected both the further downturn in the rural market and the strong demand for urban

properties and small holdings in Mt Herbert. The revaluations show that while rural properties in the county have dropped in value since 1986, small holdings have increased by 32 percent in general terms and urban properties by 42 percent. The valuation roll will be open for inspection at the Mt Herbert County

office and the department’s office in the State Insurance Building in Christchurch from Monday, December 12, until Friday, January 6. Valuers will be at the county’s office on Thursday, December 15, from 9 a.m. to 3.30 p.m. to meet any property owners who wish to discuss their new values.