LAND VALUATION.

New Zealand Herald, Volume LIV, Issue 16483, 8 March 1917, Page 8

LAND VALUATION.

» Giving evidence before the City Leases Commission at Wellington, Dr. Fitchott, Public Trustee, stated that the Public Trust, tho Government Insurance, and the State Advances Departments lent on nothing but the Government valuation—a special valuation, not the land tax valuation. They attached, ho added, far more importance to the Government valuation than to private valuations, though the latter were a check on tho. Government valuation. Tho Chairman, Mr, Justice Hosking: "The Government valuers have a great deal of experience and become very skilled." ' Mr. 0. P. Skerrett: "Your Honor may hold that view; but, neither in country lands mor town lands, do I consider them capable of making such a valuation as could be relied upon for really important purposes. Lots of them have grown up m tho Department. They have matt of them never been concerned in the buying or selling or even tho farming of land.'' Dr. Fitchett: "I have no brief for the Valuation Department, but the Public Trust invests large amounts on tho Government valuation, and for years past we have not had half-a-dozen cases where tho security has gone bad, and the experience of the Government Insurance is the same." His Honor: "The Government valuer would have at his command personally tho largest stock of information as to values. It can be said of most valuers in New Zealand that they have simply grown up. There is no school where all these principles are (aught."