VALUATION OF HAMILTON.

New Zealand Herald, Volume LX, Issue 18530, 15 October 1923, Page 8

VALUATION OF HAMILTON.

PLEA FOR A REVISION. [BY TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON. Saturday. ' -The opinion held by many Hamilton people that the town should be revalued is supported by Mr. J. E. Tidd, ,a member of the Hamilton Chamber of Commerce. He remarked that the present valuation of the borough was in the vicinity of £4,000,000, approximately half representing improvements, the balance being the unimproved value. Quito £1,000,000 'had been spent in the borough during th© last three years, in municipal activities. Improvements were reflected in increased land values, and revaluation would. probably reveal an increase approaching £1,000,000 in the unimproved value. If there was no revaluation, in order to meet the interest on the. present loan expenditure, it would not surprise him if the rates were increased by 33 per cent., and in operation this would mean a tax in some parts of Victoria Street of nearly' £5 per foot. The' valuation in the northern portion of Victoria Street might be found to be stationary, but,commercial activity in other portions of the town would -iio doubt reveal in some cases an increase of 500 to 600 per cent. These values should bear their fair proportion, said Mr.'Tidd, otherwise a very far-reach-ing injustice would bo perpetrated. Municipalities rating on the unimproved values should receive first consideration by the Valuation Department.