CITY VALUATIONS

Evening Post, Volume CVII, Issue 22, 28 January 1929, Page 11

CITY VALUATIONS

INCREASE EXPECTED

EFFECT ON RATES

The first valuation of city properties under the unimproved value system of rating, which is being carried out by the Govornmont Valuation Department, is ueariug completion, but it is not anticipated that the notices regarding individual valuations will be sent out until Ist March. The field work has been largely done, but while tho suburban areas have bcert thus covered, and part of the more important city area, a good deal remains to be done in the latter, and tho typing of tho rolls and the office work in connection with the valuation generally is far from completed. Of course thoro will bo changes affecting individual valuations up to tho last minute, but it is hoped that everything will be finalised by the date mentioned. Thero are some 11,000 leases, Harbour Board, City Council, etc., over tho whole area, and those tako time to deal with. It is expected to have the new valuations available for next year's rating. After the issue of the notices to individual owners, as usual, an Assessment Court will be set up to deal with protests against the valuations.

The last city valuation was in 1921, and it is anticipated that the new valuations as a whole will show a substantial increase over the old, but this does not necessarily affect the rates; The municipal elections arc in April, and aa it will be the new City Council which will stnie the new rates, and as the rate struck will be influenced by the estimates for the year's work in the city and suburbs, tho present civic authorities are unable to indicate what the result is likely to be. It may be, if tho amount required for the year's work does not exceed tho previous year's revenue, that the rate struck in the £ may even be reduced, a consummation expected by somo councillors, but the rate will depend on how much money tho new City Council requires to carry out the works it may decide to bo necessary. A big programme of works might mean tho retention of the present.rate, which would undoubtedly, in view of the certainty that tho valuations as a whole will show an increase, mean an increase to the majority of ratepayers. There is the fact, however, that it is the individual rise in valuations in proportion to the general rise which will determine the individual position of ratepayers. It would bo quite possible for tho rate in the £ to be reduced and yet for certain ratepayers, whoso individual properties have had their valuation increased in greater proportion than others, to actually pay more in rates.

The Valuer-General stated to a "Post" reporter to-day that there would undoubtedly bo a substantial in-crease-in the city valuations as a whole.