REVALUATION

Evening Post, Volume LXXXIV, Issue 11, 12 July 1912, Page 3

REVALUATION

OF CITY PROPERTIES CITY COUNCIL URGES GOVERNMENT TO PROCEED IS THE TIME OPPORTUNE? The Legislation Committee of the City Council recommended last evening that the council urge upon the Government the necessity of proceeding at once with the new valuation of the city. Councillor M'Kenzie 6aid he 1 hoped the council would adopt the recommendation. It was seven years since the last valuation of Wellington. The fluctuation in values was such as to justify revaluation. Suburban land would probably fall, but city values would ri6e. The speaker referred to the low valuation of the D.I.C. site at £120 a foot, which was not an argument for municipal ownerchip. No fewer than fifty leases would fall in before 1916, and this would give councillors some thought, as the D.I.C. lease might be taken as a precedent. How would the council justify its future position? The lose on the D.I.C. would amount to about £800 a year. Revaluation would take a long time, probably more than six months. The ratebooks were not an enviable eet of books to look at. Councillor Hindinarsh said the highest value now was £275 a foot for Lambtonquay, in the vicinity of the Bank of New Zealand, but sales had taken place at £400 a. foot in the neighbourhood. Values at Kilbirnie and Island Bay had gone down.. REVALUATION WOULD SHOW FALL IN VALUES. Councillor Shirtcliffe agreed that a period of seven years was quite long between valuations, but he doubted whether the time was opportune from the council's point of view. It would show a. fall both in city and suburban values. The cloud of depression woe lifting, and the valuation should be deferred until there was an appreciation of values all round. Special reasons might account for extraordinary values. He thought that the matter should be postponed for twelve months. He wouldmove — "That the question of revaluation should be postponed for twelve months." ihis was seconded by Councillor Cohen. Councillor Frost hoped the amendment would not be carriea. Values in come suburban districts were too high, in others too low. He could mention some, where the value of properties was fully three times the Government valuation. It wa« very hard on the evidence of biassed valuers for a Compensation Court to fix values. WOULD MEAN AN INCREASE OF RATES. Councillor Fletcher supported Councillor Shirtcliffe's amendment on the ground that the time was inopportune. In the aggregate the valuation would thi* year be below normal. This would mean an increase of rates. Councillor Tregear rfaid in honesty the council should give revaluation in order that people might be rated in the honest valne of the land as, it was at present. Councillor Cameron said the landlord would hand on the rates, on the rent. It was not fair to tenants or landlords to maintain the present fictitious values. He was not sure whether the Reform Party, getting into power, was going to bring a 'boom— some councillors seemed to think so. Councillor Smith : No matter what the valuation 'is the rates must be made to supply the revenue required by the city services. I have been trying to sell for £ouv a property valued at £500. Values should be put on a proper basis. MAYOR'S STATEMENT.' The Mayor said the Finance Committee should deal with the issue; and it was erroneous to think that the committee had "turned it down." It was merely postponed. The revaluation would probably mean a reduction. There could b6 little doubt that in some of the suburbs, Island Bay, Brooklyn, and others, there was likely to be some reduction. In Eonie quarters there might be a rise in values, and in others a depreciation. Of course it was impossible to say definitely yet. But taking the average he thought there was likely to be, higher values in some of the , business centres, but on the outlying portions a reduction. They must consider the matter from the view point of- rating. There would probably he a. new council next year. The matter of raising the rates was rarely gone into at the hustings. The new council might be pledged to a non-in-crease in rates, and if there was a decrease of valuation the city requirements might be starved. But he did not fear this risk because the citizens knew the necessity for adequate finance. In the fixing of values the greatest influence had Deen that the Government wanted more land-tax, and in procuring that result there had been fictitious values in some instances. He believed it would take six months for a revaluation, and he thought it should be done in anticipation'of next year. Councillor Fuller wanted to know if the Mayor's statements regarding the valuations were a. reflection upon the late Government. (Laughter.) The Mayor : No, lam referring to «11 Governments. A MATTER' OF COMMON JUSTICE. Councillor Atkinson thought Councillor Shirtcliffe's argument was absolutely fallacious. The alleged fall in values was by no means uniform. Some values in the city were much too low — properties were ridiculously under-valued. Councillor Tregear had put the matter on the soundest basis. It was a matter of common justice and honesty — a matter of fair play. (Hear, hear.) To maintain the fictitious position of boom values was absurd. He would not care, ior the sake of civio honesty, if the values dropped 20 per cent. Perhaps it would be better so. (Hear, hear.) He hoped the original motion would be passed. (Applause.*) The amendment was lost on the voice 6 and the original motion adopted.

Registration of the North Island Land Company is announced by the Mercantile Gazette. The company has a capi*tal of £12,000 in £1 ahares. The subscribers are J. A. Flesher, R. Wylhe, T. H. Evans, W. F. Tait, and J. Gregan — 100 shares each — and the objects are to acquire from the 4 Kaingaroa. Land .Syndicate, Ltd., land in the Kaingaroa and Neao districts, near Taupo. Upper Hutt is preparing to assume the more dignified appellation of borough, and will boast its Mayor and councillors. This wa6 evident at last meeting of the board when the clerk read a request that it should join in a protest against those provisions of the -Local Government Bill which proposes to wipe out* road and town boards. "Seeing that it is unlikely that we will remain a board much longer, I don't think the communication touches us very much," said a Commissioner. _ The remaining Commissioners thought- likewise, and tho letter was "received." When you think of it« delicious flavour, when you know how quickly it can be prepared, when you've noted that ,it never, never wastes, can you wonder that "Cauin Coffee" jg co popular ?-r Aiyt. .