ASSESSMENT COURT.

Dominion, Volume 1, Issue 218, 8 June 1908, Page 7

ASSESSMENT COURT.

, MIIUAIAE VALUATIONS. ..... • The sitting of tho Assessment Court to hear objections to the Government re-valua-tion of Miramar properties was continued on Saturday. Dr. M'Arthur, S.M., was president of tho Court, and Messrs. D. T. Stewart and P. L. Townsend assessors. Mr. F. Martin represented tho Government Valuation Department'. ■' Mr. Martin said that as the result of a conference with Mr. K. Chase-Morris, the objections to tho valuations on Miramar Limited lands had been withdrawn. _ Mr. 11. Chase-Morris objected to tho valuations put upon sections 2 and 3, Lot 2, Miramar North. The valuations were:—Section 2, £200; section 3, £140. Tho owners' valuations wero £150 and £130 respectively. Mr. Chase-Morris said that a tremendous amount of ; speculation had gone on at Miramar North, and it was this that had given Miramar its prominence. This' land could not bo sold now for the price paid for it five years ago, though in time it would bo greatly in demand. Tho Court considered tho owner had placed a fair valuation upon tho sections, and upheld tho objections. . Mr. Chase-Morris also objected to, the valuations to sections -18, 49, 50, and 54, Totara Road. The respective values wero £300, £375, £250, and £150. Tho objector considorod they should be £250, £300, £200, and £125 respectively. He said thoro was no doubt tho valuations would bo well sustained'in a fow years, but ho ropoated thoro was a tremendous amount of land for sale there, and syndicates had bought and hold them, and would havo to retain and pay interest on them somo time before they were sold. No doubt tho valuations would go up in time. The court considorod the valuations fair, and refused to reduce them. The same ownor objoctod to tho values of sections 45, 44, 43, and 42, block 5, Miramar. Tho valuation placed upon tho two former was £4 per foot, and upon tho two latter £3 per foot. The Court reduced the values by ten shillings in oaoh case, which was about half tho concession aslced by the ownor. The valuation placed on sections on Paris Road, Miramar, was . reduced from £5 10s. por foot to £4 15s. per foot. A number of other Miramar sections were also dealt with,'the valuations in most cases being sustained. Mr. Martin said that tho value of tho Miramar Park and Wonderland Company's proporty had been reduced by consent from £11,760 to £9000, unimproved value. Tho Court then adjourned until 2.15 p.m. cn Wednesday next.