CITY RATES.

Dominion, Volume 4, Issue 948, 15 October 1910, Page 4

CITY RATES.

THE MAYOR EXPLAINS.

! Referring, rates,;:,.-which appeared .m:.. The Do- : minion ' ' the Mayor (Mr. ■T. ■ , M. Wilford) ' tola 1 a reporter .that, - in l considering tho ctty improvement: rate, ?, it was necessary • ti> the};position• : v Ksince' 1902-3, and the reduction of the-. ; credit balance-of the: account. ;• The re-duction-of tho .rate from 19-64 d. ..in • .* 1905-6 to l-10d. in 1906-7- was:a real: one.: '|The proceeds, inconsequence of; tho reduction,- dropped from £7249 to - 'i £3495. as will be seen on reference to ,■ the taole (printed below). : "The Dominion;"- said : Mr.,.Wilford,v : f.'is therefore wrong' instating that 'the reduction-,was not worth its face value.'v. It. will also be noticed-,", .ho went on,' "that- for; : four:years ratepayers con-: : tinued i to. derive a benefit!, from' the re- ■ duced rate, 'While the accumulated credits balance'of the account was being dis-'-posed of. , The credit balance now hav-;.-mg, been disposed of,- the- rate, as rein- - stated, is just- sufficient to provide for the interest. and charges on the, loan. : • ■ I may mention ithat the rate is levied only on the ratepayers of Wellington, • - as originally bounded, and not on the , ratepayers .of Greater-Wellington." ' - • ■. The following/is the table referred to above: — Bate Amount Credit Tear. levied. Collected. Balance. >.v ■ ' ■ d. £ £ ■ 190 M 7-16 80S7 ' 10,157 19034 5-16 7561 11,056 • 1904-5 i 10,373, 1905-6 ' 19-64 7249 10.543 1906-7 -1-10 3495 ' 7il4S 1907-8 J-... 1-10 84S8 3,614 1908-9 1-10 3494 23 1909-10 ' 1-10 3501 - — 1910-11 ™ 1-5 current ■ year "It will be seen;" said Mr. Wilford, ."that the cheaper rate.oM-10d.:for.'the ■ last four years was a reduction-granted • to the ratepayers because of the accumulated credit balance from the larger .< preceding rate. Now that the- credit' balance is used up,, we, of course, ~ tunrto the rate that was levied/before.'. wo made the reduction, on account of : ' the., accumulated: credit. ■ Here . is- an- i. other way ■ to: explain'it. , -The counc'l found themselves, on.'account-of .\ the.', rate -struck, witha. large'' profit.. They - therefore reduced the rate, having that profit in hand.;. It has now been disposed of, and the original rate is revert- v ed to."