TO THE EDITOR OF THE MANAWATU HERAD.
p'ir, — Could you through the medium of your columns inform me " and pro bono publico," if land on deferred payment is exempt from the property tax. I am, &c, Enquiueii. Campbollfown, June 2. 1880. [DefoiTed paymcut Ja id is not exemp from propprty lux. At tho same tinis, tlie person holding it does not pay tax upon the total value of the land, but merely upon the vuluo of his interest in it. For imtauce : Suppose a ma.n buys it block of land on deferred payment of the value of £1000,
bufc'pnyH only £100 upon it, leaving fee rmKining X'JdO on noi-tpaK©. The puroliawrV i'ttoresfc is assessed at only £100, upo) which i-uin h« pays proper'y tax, «nd the seller hits to pay the tax on tbe £900 Still unpaid. Id ibis respect tbo jpppxty fc.ix is quite- 'litforent to the land tax. Ux>der the land nx thepurch **r would hare had t<> pay the tux on the £1000, and the mortgagee would havo trot off »cot free. Not to under the property tax, as each man ia asae-wed ouly upon what ho actually p oß> jje*<»3.~E:>. M. HKitAT.n]
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MH18800608.2.12.1
Bibliographic details
Manawatu Herald, Volume II, Issue II, 8 June 1880, Page 2
Word Count
196TO THE EDITOR OF THE MANAWATU HERAD. Manawatu Herald, Volume II, Issue II, 8 June 1880, Page 2
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in