ASSESSMENT COURT

Evening Post, Volume CXVI, Issue 23, 27 July 1933, Page 12

ASSESSMENT COURT

DECISIONS ANNOUNCED

Tke Assessment Court, which sat in Wellington last week to consider objections to the Government valuation of properties, has given its decision in all cases in which no agreement was reached at the hearing. The capital value of £31,350 placed upon, the Willis Street property acquired by J. E. McKenzie, Ltd., ' for the erection of a new department store on the front portion has been sustained. The valuation, which was fixed as at March 31 last, assessed the unimproved value of £26,350 and improvements at £5000. Application was made to the Court to reduce , the capital value to £27,500, the figure at which the property changed hands, made up of £22,500 for unimproved value and £5000 for improvements.

In the majority of cases concerning city and suburban properties, notably those in Kent and Cambridge Terraces, the Court has sustained the unimproved values fixed by tho Valuation Department this year. In a number of instances the value of improvements has been reduced slightly, but there are two cases of improvements having been, assessed at a higher figure.

During the sitting of the Court the question was raised whether the full amount of money spent on developmental work should be taken into consideration in fixing the* value of improvements where sections would otherwise have had very little value. In all cases where an added value- has been given to land by private development a reasonablo amount has been allowed in the capital value as provided for by tho Act.

In regard to certain subdivisions at Lower Hutt, mostly vacant laud, the same principle of added value has been applied by tho Court, but the unimproved values have been reduced by 20 per cent, in keeping with present-day values.

At the annual conference of the New Zealand Counties' Association today the election of officers resulted in tlio return of the. sitting officers with the addition of Mr. C. J. Talbot (I'airlie) as a vice-president.