ST. JOHN'S COLLEGE.

New Zealand Herald, Volume LXIX, Issue 21133, 16 March 1932, Page 13

ST. JOHN'S COLLEGE.

ENDOWMENTS AT TAMAKI. RATING LEVEL LOWERED. SUBSTANTIAL CONCESSIONS. Very snbstantiaj abatements in rating assessments were granted to the St. John's College Trust Board by the Auckland City Assessment Court yesterday in respect of endowment lands, subdivided and otherwise, comprising a large area at Tamaki. Most of the properties were stated to be lot for grazing at low rentals.Counsel for the trustees stated that the objections related to over 100 properties in an area extending from the Remuera tram terminus for long distances on both sides of the St. Heliers Bay Road and as far as the Tamaki River. Some attempts had been made at subdivision and certain of the properties could be treated on that basis. The majority of the land, however, had no present value, except for farming purposes. Most of it was let on yearly tenancies for 10 to 20 years, with right of resumption for subdivision purposes. Some of the rentals did - no moro than cover the present rate charges. The St. John's College Trust Board, like other such bodies, had been placed in a serious position owing to the burden of city rates, and now had no income from much of its land. He could bring evidence to show that the properties were being used only as agricultural land. Mr. W. R. McKean, S.M.: But some have been subdivided and roaded. Counsel said that only small portions had been so treated. The board was content to have these dealt with as subdivisions. There had been no sales for a

long time. Mr. Notley said he was not prepared to • concede that the board's properties should be treated as agricultural land. The aggregate rental value was now placed at £5942 per annum. The first property considered was a block of 70 acres on the southern side of the main road and opposite Meadowbank Road. This was stated to be leased as a dairy farm for 10 years at £74 per annum, subject to certain conditions as to topdressing and the clearing of gorse, with right of re-entry on payment of compensation. The rate assessment was £756 per annum. Evidence regarding the property was. given by C*. F. Bennett and J. IT. Jackson. land valuers, who estimated the value for farming purposes at not over £55 an acre, compared with the rating basis of £216 an acre. Mr. Bennett said the leases were advertised, and there were scarcely any applicants. In some cases tenants had brcn allowed three years rent free. The magistrate reduced the assessment from £756 per annum to £192, equal to 5 per cent, on a total value of £3840, or £55 an acre. Regarding 11 other blocks of land, with 4 frontages to St. Heliers Bay Road, Kohimarama Road and College Road, the assessments were reduced in the aggregate from £4107 per annum to £lßl3. The total reduction, including that on the first-mentioned block, was £2858. Three subdivided properties at Tamaki, containing 74 unsold allotments, and one in Surrey Crescent and Great North Road, Grey Lynn, containing 10, were re-assessed on a basis of two-thirds of the revised upset prices fixed by the trust board.