CORNWALL PARK RATING.

New Zealand Herald, Volume LIX, Issue 18040, 15 March 1922, Page 6

CORNWALL PARK RATING.

INCREASE fti VALUATION.

ADDITION OF £79 AN ACRE.

Notification of the Government valuation of Cornwall Park for this year was received by the trustees of the park yesterday. The previous valuation was £195,950 on 391 acres, and the sum of over £1300 was paid last year in rates to the One Tree Hill Road Board. This year the ratable value of the park is £235,120, the area being 406 acres. Comparing these figures, the previous valuation was at the average rate of £501 per acre, while the new value is assessed at £580 per acre. It had been expected by the park trustees that a considerable reduction would have been made in the amount of the valuation, in view of the provisions of the recently-passed Valuation of Land Amendment Act. The Act states that " where land is owned or occupied by or in trust for a society or association of persons, whether corporate or incorporate, and used as a publio garden or reserve .... and such land is not used for private profit, the Valuer-General shall reduce the valuation of such land, and of the interest* therein, " to the extent by which in ffia opinion such value is reduced by reason of the limited and restricted purposes to which-such land is applied." From the wording of the Act, it is left to the discretion of the Valuer-General to make the reduction of valuation, but in the case of Cornwall Park, the valuation has been increased by £79 an acre.