LAND LAWS BILL.
REVALUATION OE CROWN LEASES. to “Tribune.”) Wellington, Sept. 27. The Land Laws Amendment Bill, introduced into the House last evening, is to a large extent a machinery bill. There is an important clause providing for the revaluation of leases df small grazing inns of Crown or settlement land, granted in respect oi leases which expired before the passing of the Land Act, 1921-22, but not earlier than 28th February, 1920, if, on revaluation of any land under the section, the value, as then determined, exclusive of the value of improvements, is less than the capital value of the land on which the rent is based, the rent payable under the lease shall, as from the date of the lease, be porportionately reduced. This will apply to soldiers’ settlements. The Minister for Lands stated that the clause was to relieve the settler who took up leases at the peak period, and who found it impossible to carry on.
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Bibliographic details
Hawke's Bay Tribune, Volume XII, Issue 243, 27 September 1922, Page 5
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160LAND LAWS BILL. Hawke's Bay Tribune, Volume XII, Issue 243, 27 September 1922, Page 5
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