A MILLION INCREASE.

New Zealand Herald, Volume LI, Issue 1509, 16 January 1914, Page 9

A MILLION INCREASE.

CITY'S CAPITAL VALUE.

XKARI.Y SIXTH F.N MILLIONS

UATAIU.i: VAl.ri:. iNni.rejti.

; Tin •'■ • irn .' l! .- .-.ital.'i" value f.. r Auckj land I ■■ . in. hiding Pain, II and Arch J lull, f r the period 101-1 If) has been com I piled bv the city valuer I.Mr E. Hick ' ling . aid sli."N« a,, increase of C6I .954 when . .unpaid with the figures for tin- : I'M ! > '. I per, id The increase in the capila! mi! dm.i,.- tin- past ; car works out 'it CI 2.V oki i \s this ;s the hist valuation since the ' .uiulgauiatioti of 1',,.,,,!! and Archlnll t1... valuer <■ in-:,l.'red it advisable to show a -i-pai.it.' i-.-tnrn 111 . .-nne, turn with the j i". tease in ratable value for both these ! de-til, I- I'l •• total t a table value for 1 Auckland I :tv is CHIM.')2b. which is „l, i J.-, t to r, \ is,. ii l.\ tin- Assessment Court. I'm, ipiait.rlv s'lppleiiientary valuations have yet to 1... submitted, and as these will drill H.t'n .i iiumbet of important buddings -\liii li an- nearitig completion. tin- increase for the ensuing period will be ,- nsiderablv augmented l-'or the 1 ill la peii.'d th" ratable value of in.' . ;ly . m • .in hiding I'aniell and An h I:.!, is set down at £819,500. less £29.i)06 f.-t i it. plop, ities not hitherto shown in tin- i it.it.!.- v.cii..-. making a net total of JtVlo.'..V. ...in pa red with £700.019. the il.,e .tin.- l'oi PJIS-I 1. Ihe un tease lor 1 '11-1 15 is thus jLCi-.'.b13. made up as t'.il--.vs N.-w buildings and properties pievioitslv i-M-mpt, £23.108. and in. tease • ■ii old values. £3b.?U,.. he sum "i £60.38b represents the i <t able v.,!,,,- „| Paiinll for 19M 15. Flout Id In., to he dedu.ted £I'\ . to, borough pi |'< Mies Hot hithelto .-'■ .11 .1- tatable values, leaving a lie! ts.tai of £ft 9.365. as conq.arcil with £57,878 for 1913-14. The in. tease ..f £1.87 p,r the more re, ent period is made up .is follows .-Now buddings, et. . £256. and iimcisl on -Id values, £1-187 Ar. I,hill's ratable value 1- -et down at £1f>.038. 1.-.-s £15 for the old ho.-ud office, hitherto not shown us i.it.ihle vain,-, leaving a net total ',<\- 191- 15 of £15.023. as against £14..ire.) for 1913 11 The increase ■■t £CkVI |. r 1914-15 is made up as follows. -New buddings, et, , £180; increase on old values. £174. Mr Hvk ing point- out thai the Parnell assessments hive been in, reused, a- a few , bur, h properties had been valued rather on the low side. Thr.-e hotels in the distil, had also increased in value. The city valuer reports that the Archhill assessment- are prast.cdlv stationary, as one third of the increase , .insists of an item which was not previously assessed. The feature of the return is the fact that very little advance was mad.- in the valuations of the two districts whi. h were recently amalgamated with the city. A large proportion of the increase in the ratable value of the city property is accounted for by new buildings erected during the course of the year The capital value of the Auckland (, ity area is now £15.885.860. representing an increase of £1.239,080 when compared with the capital value given for the 1913-14 period. Commenting on the valuation return, the Mayor i.Mr. C. J. Parr) characterised it a- extremely satisfactory. It showed, he said, that the city continued to make wonderful progress. The Mayor said he was glad to not,- that Mr. H'ickling had kept separate figures for Parnell and Archhill. In both these district* there had been no increases worth speaking about. This was a sufficient answer to those Little Aucklanders who predicted that the values would be increased tw«Jold through these districts joining the city. "Mr. Hickling's return," went on the Mayor, "shows that he does not see any reason to disturb the values made before amalgamation, and considers iliem sufficiently high. This is a testimony to the strict valuation that is going on in the suburbs, and we are quite willing to accept it. " I hope the lesson to be learnt.'' concluded the Mayor, "will not be lost upon other suburbs."