NEW VALUATIONS

Gisborne Times, Volume LV, Issue 6153, 10 August 1921, Page 5

NEW VALUATIONS

GISBORNE AND MANGAPAPA. CAPITAL VALUE INCREASED OVER 50 PER CENT. Tlie- completed returns of the rec-ently-revised valuations of properties in the borough of Gisborne and of the Mangapapa Town Board district are now available. 1 These returns are final, with’ the exception of any adjustments which were made by the Assessment Court at its sitting on Monday, and* have allowed for any alterations which were made by the V aluation Department without the objections going before the Court. The total valuations for both the borough and the Mangapapa district indicate that, since the last valuation of the district was made in 1912, a substantial increase in the values of property in the district has taken place. Tlie total valuations as at March 31 of this year, together with those of 1912, and the increase in each class of value, are as follows: GISBORNE BOROUGH. Value. 1912. 1921. Increase. * ! r * £ £ £ Unimproved 1,490,540 2,281,690 791,150 Improvements 1,617,745 2,592,933 975,188 Capital .. 3,108,285 4,874,623 1,766,338

Rateable 1,375,990 2,092,575 716,585 Exempted . 114,550 189,115 74,565

j From these figures it will be seen j that the capital vahie of the borough ; has increased by £1,766,338, or 57 per j cent, during the past nine years. The ! unimproved values, upon which the j rates are levied, shows ail increase of j £791,150, or 53 per cent., while the I rateable value—the unimproved vahie | less £189,115, representing the vajue- | of properties which are exempt Jrom j rates—jhas increased by £716,585, or !52 per cent. The latter figures indi- ! cate the actual amount upon which ! the Borough Council levies rates, so j that this year the Council is in a po- [ sition to collect rates in respect of | £716,582 more than last year. Had the rate remained the same as last year, the rates struck would have increased by 52 per cent.,Jbut a reduced rate will obviously result in a decrease in this percentage. Some indication of the growth of the town is given by the figures showing the capital value and the value of the improvements in the borough.

The latter figures indicate that during nine years the values of improvements effected in the borough amounted to £975,188. These figures, apart from showing the increase in the valuations, give incontestiblc evidence of the progress of the borough. According to the figures, over £IOO,000 of improvements have been effected annually during the past nine years. Existing improvements have, no doubt, during the past nine years, appreciated in value on account of

their situation and the generally advancing values of the town, but this increase is counteracted by the general depreciation which has to bo allowed on practically all improvements, so that the figures are a comparatively correct indication of the improvements which have been carried out during the period. A similar position is shown by the .figures for Mangapapa, while a proportionately greater increase in the

value of improvements is shown, these having increased by over 66 per cent, during the past nine years. The cap-* ital value of the Mangapapa District has increased by 58 per cent, the unimproved value 47 per cent, and the rateable value 49 per cent.

CR. COLEMAN ASKS QUESTIONS

LITTLE SYMPATHY FROM CR BALL.

An echo of the valuations protest came before the Borough Council last evening, when Cr. Coleman rose to speak on the matter of rates. Cr. Coleman said that, at the hist meeting of the Council, he had asked the amount of the increase in rates to be received under the new valuations, and was told it would be 123 per cent. But now, when the rate demands were issued, other councillors like himself were afraid to go down the street, because they were stopped by ratepayers. Some said their rates were 200 per cent, higher and others said 100 per cent. If the total increase was only 123 per cent., some ratepayers were getting off much lighter. z The Mayor said lie was glad the question had been raised. In quite a number of cases the rates bad been reduced. The speaker gave several instances where 'the rates were less than last year. Cr. Coleman said his own rates, residential and shop, had increased. The Town Clerk: .Gladstone Road got it pretty hot. Cr. Ball said that when the public meeting was called to discuss the rates he held that they were correct. Those who complained of big increases should thank their lucky stars they had not paid what they should have done. Gladstone Road was the most striking example. Stout Street and Clifford Street ratepayers paid practically the same. The new valuations allowed for a rise of about 25 per cent., and anyone paying over that amount was bearing an increased rate. The West End bad been rather too low in the past. Te Hapara increases were very heavy, largely on account of loans for improvements. The valuations were fairly evened- up throughout the -borough. The matter then dropped.

j MANGAPAPA TOWN DISTRICT. , i Value. 1912. 1921. Increase, i £ £ . £ | Unimproved • 122,835 180,480 57,647 | Improvements 153,011 255,766 102,765 | Capital 275,844 436,256 160,412 | Rateable 114,023 170,435 56,412 t Exempted 7,810 9,945 2,135