LAND VALUES

Hawera Star, Volume XLVII, 25 July 1928, Page 7

LAND VALUES

RURAL ASSESSMENTS. CONSIDERED TO BE TOO HIGH \ ADJUSTMENTS IN PROGRESS. (By Telegraph—Special to The Star.) WELLINGTON, July 24. Many criticisms of land valuations were Beard from members when the annual report was tabled in the House to-day. The main features were that valuations were too high and that the revisions were too tardy. The Minister of Lands, the Hon. A. D. MicLeod, remarked in reply that he knew it was an (ideal to take one standard of values- for the Dominion, but haw to achieve it was the difficulty. There were 60,001) farms in New Zealand of over two hundred acres, and if ono hoard was appointed to fix their values, it could cover, say three farms a day and would need sixty years to complete the whole country. Mr W. D. Lysnar: “It was not suggested that one board could do it.”

. The Minister: “If it means mo-re than one, you- will get just as many differences of opinion as you get now between the valuers —honest differences regarding.unimproved value.” 'The Minister added that it was generally agreed that the unimproved value of rural lands- had- been placed too high in the past. His department agreed with him on that point and- an adjustment was . going on. Jt needed care and no attempt would be made to rush it, otherwise the same inequalities would -arise a® occurred when the values were pushed up' in the-last boom period, owing to- complaints that the land was grossly under valued. Mr H. E. Holland. Leader of the Opposition : “Will the wool boom have any effect?” Mr McLeod replied that this was one of the troubles, but high prices mightonly prevail one year. Unless they worked out the va'l-ue of the produce over a period of say seven to ten years, thev could not be sure of fixing a. fair land value.