LOCAL RATING

Evening Post, Volume CXXXI, Issue 78, 2 April 1941, Page 7

LOCAL RATING

' UNIMPROVED OR ANNUAL

VALUE?

A movement is on foot in Lower Hutt to have the system of rating changed back from rating on unimproved values to rating on annual values.

Rating on unimproved values was authorised by an Act passed in 1896 as the result of a movement led by Mr. P. J. O!Regan (now Mr. Justice O'Regan) and Mr. A. W. Hogg, M.P., and the object was to discourage the holding of land fpr .speculative purposes. Petone adopted the system in 1901 and Lower Hutt in 1902. About 43 per cent of the local bodies in the Dominion use it, and these represent 58 per cent, of the population of the Dominion. The object of the system was achieved, but it is claimed by those who wish to abandon it that in a fullysettled area rating on the annual value is more equitable. The question was discussed at the recent municipal conference, which decided to have reports on both systems prepared as a guide to discussion. The system can be altered only by a poll of the ratepayers, and authority to take such a poll has to be obtained by a petition of 15 per cent, of the ratepayers. Petone is also considering the question. ' ' Hotel Darwin, Ltd., Port Darwin, reports that, although sufficient profits are available, the directors have deferred declaration of a dividend because of necessary and unavoidable capital expenditure incurred during the year. Kempthorne, Prosser's New Zealand Drug Company announces a dividend of 4f per cent, for the half-year, making 8 per cent, per annum, payable April 9.