RATES DUE BY STATE

Dominion, Volume 31, Issue 191, 11 May 1938, Page 15

RATES DUE BY STATE

Procedure In Operation The procedure followed in the payment of rates to local authorities by the State Advances Corporation wirs outlined by the Minister of Finance, Hon. W. Nash. He said the procedure at present in operation provided for: (a) On occupied State rental houses full rates are to be paid; (b) on properties where the State Advances Corporation is mortgagee In possession rates are paid in the same proportion as the proportion of rent collected is to the total rent due; (c) in cases where the State Advances Corporation grants new loans on properties the Corporation is liable for full rates. “These arrangements,” said Mr. Nash, “have resulted in the following payments to the Lower Hutt Borougn Council during the past two years: 1936-37, £3228/14/3; 1937-38, £3200. The actual payments by the State Advances Corporation as mortgagee in possession, compared with the rates struck, are us follows;—

“Of the amounts due, cheques have already been sent to cover the sum of £2312 for .1936-37, and £2lOO has been paid on account of 1937-38. “These ratios of payments,” added Mr. Nash, “are probably as great as, if not greater than, the actual total rates collected from ordinary ratepayers by the borough to the total amount of rates struck for the respective years.”

Amount due by Ratio Rates Corporation o£ rates struck on to struck to properties, council. rates paid. £ £ P.O. 1630-37 . ... 2473 2312 63.5 1937-38 , ,... 2320 2241 90.3