MORE MONEY IN RATES.

New Zealand Herald, Volume LXVII, Issue 20473, 27 January 1930, Page 9

MORE MONEY IN RATES.

ANNUAL VALUE OF/ CITY.

INCREASE OF THREE PER CENT.

EFFECT Of! NEW BUILDINGS.

A sign of prpgress that may not bo over-welcome to the payer of city rates is the growing incirease in Auckland's annual ratable value. The total lor the 1930-31 rating year is. £2,781,224, against £2,698,716 last .year, an increase of £82,508.. ' f But, whether welcome or not, the city's 'expanding " value provides * an accurate guide to the rate of development. There have been no mergers of contiguous districts during; the past year, so that the increase of 3 per cent, in the total valuation, virtually indicates tho rate at which tho city is growing within its own limits. Now that, tho new assessments have been posted, ratepayers are indulging in the annual practice 0! comparing tho notices with those received a year ago. Generally speaking there have been few increases. The city valuer, Mr. P. F. Notley, states that the increase in the total valuation is almost wholly accounted for by tho erection of new buildings and alterations to existing structures. ' - Remedy -0! .Assessment Court. The capital value of buildings completed during tho year -totalled about £1,650,00, which included notably the buildings on the Civic Centre,-tho Auckland Electric-Power Board's offices, the South British Insurance Company's building, Smith and Caughey's building and several other large structures.. New gas and power mains also accounted for increased valuations in some cases.: The year was also a fairly active one for home-building, and Mr. Notley states tho number of new dwellings completed was 510. 'J. Dissatisfied ratepayers have, of course, the remedy of lodging objections, which are dealt with by tho Assessment Court, which usually site in February. Reductions totalling about £13,000 were made by the Court last year, so that the new valuation total "is subject to re-adjust-ment as a result of the Court's findings. Auckland, one of the few centres to rate on the annual value, had a rate of 3s 11 £d in the pound last year. .The rate is struck as soon as is convenient after the balancing of accounts on March 31, and it is probable that June will be the month on the present occasion. It is too early to forecast whether there will be the necessity this year of «raising tho rale, which has recently remained fairly constant. A similar rate tins year, making no allowance for readjustments, by the Court, would yield to tho city coffers a revenue of about'£sso,ooo. An Expanding City.

The growth in the city's valuation in recent years is traced in the following table, the increase in area at different periods being due to amalgamations:—

The annual value of an average, acre . in the city of 1912 was £389, a figure - which has" been appreciably,' reduced as'"s. a result of absorption of relatively less valuable" land. Prior to the absorption of Avondale, Tamaki and Orakei, the .--, latest districts to unite with the city, the average value was. £240 an acre. The , effect of those mergers was to reduce the ; figure to £l3B last year, and there has been a slight increase to £l4l this year. ' • ■ , ■" - - ' • v Since 1912 the city valuations have , quadrupled, while thc area'to-day is al> most exactly ten times greater.

Annual ■ " ■ ■ ratable Percenvalue. tage inYear. £ • - Acrefl, crease. 1912-13 682,569 •1,948 — 1913-ie v. " 802,850 2,570 17.6 1914-35 ' 883,984 2.570 J0.1 1915-1G . , ... 999,3-24 6,070 13.0 1916-17 . . . 1,021,572 6,168 2.2 1917-18 . • 1,059,709 6,168 3.7 1918-19 ..1,057,127 " 6,168 .7 1919-20 .. 1,137,081 7.807 6.5 1920-21 . 1,252,568 7,307 10.1 .1921-22 .. 1,497,095 9.427 19.5 1922-23 • • . 1.591,644 9,407 6.3 1923-2 i .. „ 1,659,230 9,427 4.2 1924-25 . 1,841.464 9,427 10.9 1925-26 ' 1,972,628 9,427 7.1 192G-27 . . . 2,130,709 9,427 aio 1927-28 - .. " . 2,262,210 9,427 6.2 1928-29 .. .. 2,464,079 13,127 8.9 1929-30 .. 2,698,716 19,595 6.0 1930-31 ,. k . 2,781,224 19j595 3.0