DEBIT BALANCES

Evening Post, Volume CXII, Issue 49, 26 August 1931, Page 10

DEBIT BALANCES

INCREASE IN RATES

POSITION AT THAMES

(Special to "The Evening Post.")

AUCKLAND, This Day.

The' burning question in Thames at present is rating. The consolidated rate struck last year was Is 7 17-40 d in tho £1 on a rateable value of £272,787, and this was calculated to produce £22,085. The water rate was Id in the £1, producing £1050.

This year the consolidated rate is 2s 10J«l in the £1 on a rateable value of £167,700, producing £24,050. The water rate is I{kl in the £1, producing £07(>.

The increase of nearly £2000 in the amount produced by the consolidated rate is to meet in part debit balances carried forward from' last year. This is in spite of the economies effected by the present council, totalling £1700. The increase in this year's rates, compared with those for the 1930-31 period, is 9.3 per cent., and as compared with those for 1929-30 7.8 per cent.

The capital vnluo at the last valuation of the Thames Borough was £fj'2o,3i"is, and the public debt on Ist July, 1931 (excluding tho Electricity Depart"lnent, which is a profit-making concern and which finds its own interest and •sinking fund) was £229,103. A set-off .against this was an accretion of sinking funds totalling £18,000.