GREYMOUTH FINANCES

Greymouth Evening Star, 12 August 1942, Page 2

GREYMOUTH FINANCES

TREASURER’S REVIEW

At a special meeting of the Greymotfth Borough Council, last evening, a survey of the Borough’s financial position was submitted by the Treasurer (Mr. F. H. Denton). The Mayor (Mr. F. A. Kitchingham) presided, also present being Crs. H. Herring (Deputy-Mayor), J. Saunders, G. R. Harker, J. E. Stokes and Pte. C. Neville. 1 Mr. Denton reported that tne Valuation Department had forwarded the Borough valuations for the current financial year, the capital rateable value over the whole Borough being £1,816,207 and the unimproved value £416,777. “Allowing for properties which are not rated by the Borough and for the reduced value of urban farm lands the values over the whole area are: Capital, £1,769,440; unimproved, £394,627. The general rate in the £ over the whole of the Borough will be uniform, but for rating purposes the values of the old Greymouth area and Cobden are separated, the respetice values being:—Old Greymouth area: Capital, £1,524,653; unimproved £361,823. Cobden area: Capital, £244,787; unimproved, £32,804. “The general ratae on the basis of unimproved value of the Greymouth area of 8-344/1000d in the £ will produce £12,579/7/7. The hospital rate over the combined areas shown as necessary is 1-626/1000 of a penny in the £ on the capital value will produce £11,987/19/1. The water rate based on the annual value will produce approximately £2,850. The general rate over the Cobden area, on the unimproved value of 8-344/1000d in the £ will produce £1,140/9/8. A special security rate to pay charges on the Cobden waterworks loan of 3-831/1000d in the £ levied over the Cobden area will produce £523/12/8. Special security rates over Greymouth and Cobden combined areas in connection with the following loans, are struck on the unimproved value: The renewal loan 1937 of £11’750 requires a special rate of 433/1000d in the £ and will produce £59/3/8 from the Cobden area. The Omoto road slip loan of £l,OOO requires a special rate of 54/1000d in the £ and will produce £7/7/8 from the Cobden area, and the unemployment relief loan 1938 of £8,200 requires a special rate of 504/1000d in the £ and will produce £6B/17/9 from the Cobden area. “Considerable time will be saved in connection with preparing the rate book and rate if the Greymouth area special annually recurring security rates struck on the basis of the unimproved values in connection with various values in connection with various loans or such part thereof, as the Council decides to collect are consolidated with the general rate and collected as a consolidated rate as provided for under Section 96 of the Municipal Corporations Act 1933, and I would recommend that that course be adopted. Also that the whole of the rates over the Cobden are struck on the unimproved value be consolidated and collected as a consolidated rate.”

The report was adopted. The rates will be struck at a special meeting on August 27.