PURCHASE OF HOUSE.

New Zealand Herald, Volume LXIX, Issue 21239, 20 July 1932, Page 15

PURCHASE OF HOUSE.

BOROUGH COUNCIL'S NEEDS. V " PROPOSED OTAHUHU , ACTION. A recommendation by the Legal and Finance Committee of the Otahuhu Borough Council, that the council approach the Valuatiofl Department with a view to purchasing one of the many properties in the borough which have been offered to" the department by ratepayers, is to he considered at the next meeting of the borough council. The committee reported that a large number of house properties had been offered by ratepayers with, a view to obtaining reductions in the valuation of the properties. It recommended that consideration be given to the question of purchasing a house property at the price offered to the department, the house to be used to accommodate one of the council's staff.

The revaluation of the borough of Otahuhu was completed early this year and objections to the valuation by owners were heard at a sitting of the Assessment Court at Otahuhu on June 27. The valuations were sustained in every case and about 30 owners gave notice that they intended to offer their properties to the department. Under Section, 45 of the Valuation of Land Act, any owner not satisfied with the value of his property as fixed by the Assessment Court may give notice to the Valuer-General that he requires the capital value to be reduced to the amount specified in the notice (she amount specified being the sum whiph in the owner's opinion is the fair capital value of the property), or the property to be acquired on behalf of the State at the sum specified in the notice. The Valuer-General may either reduce the valuation to the sum specified by the owner, or to any other sum agreed upon by himself and the owner. Failing either of these courses, then the department must purchase the property at the price specified by the owner as the fair capital value.