PROPERTY VALUES

New Zealand Herald, Volume LXX, Issue 21458, 4 April 1933, Page 12

PROPERTY VALUES

'AmmnMrxtHin cm .i 60Vni HEARS OBJECTOftS prmum for magistrate . GAS COMPANY'S MWCTiOti j "W? i**k is more diffejtilfc pTPTt f>h-*ri I (hst fit fhe rib? rsiiitf/' stfkl Mr. W. ft.. Met\ eri.fi; who is preskirritg (rfp-f- the Asspss.frip'ftt f"t the (it? •'"* Ati€kfafid; tffeefi referring at Ifift nffariing M ifefi Gehiri proceedings tP<fjsffj{fy {/)' Ms desire td .«#©' ft nft ft tfi** rofJf.g' hiitflwi ftfis evenly disttibtfied <.ed upsp?. Kir gmri'g undue etthtt** tirtftft j\/» lbo«e t" ho' objected, w'hiw ratepayers had t.o bear ft disprO j pr>r tkr/ffft » pbs re. Tho C'if.7 Valuef, iff. T*. P. Ifoilefi said thflt, rintiirftlly, "fi account of tb*i difficult, time®, bhete were turn* t/bfa* ifah* Hhtih ufsiift!.- 'flip objections /I'irtitere'd jp.vt. ffr 02" more then hub rear, jf, difficult for his department to gjr« irpdrPSS Without <i Ift fe ?Jr 1»1 T1 i£ the i 1 niforifii of values. At- the sams j; m p, fie desi rp'l to distribute the '"irfUn pfp.ifThlr. A jTi?iiT»f»l arrangement ),<,'] I.pcit Jnade in the majority of tlie fibiefMon*. fn other cas&S there had f,p»n no reply to offets made by his department,' but such esses wririld be tailed fn gire ohjocfors no opportunity fn he heard. pridppce w»s cnilpd fi.tr trie 'Aricklatid Gas tympany in support of if* plea for ft reduction of the assessment if! regard to ft proppftr of ttro P'-fp«, nt Freefnnn's I>ny. nnd oolitltlßU liy ('oUpfjp, Krnnkljfi fthd Jjffl'le. ' Air. James Lowe, generfll iimiiflKPr nf the coinpanj, saifl there were two g«fs)in!(lprsj two Btores ftiv.l » garage oh t)is propert.fi The buiklings were vaiuet! at £ifl7>J: The propert.T S anttUal rateflhle \'fl!fie hatl heeh jiospssed nt ftSOOj whirh implied ft t-ftpitftl ralite of £24,000. Hi Us the tihirnpioved vaitie of the laud was praftieftlly ris?essed at £'22.000, of £II,OOO tori to whif'h f'miife the eompauy ohjeeJi'Pd: The (Inveriimpnt ralufitioil of the property in 1022 i a boom .Veaf, was £OSOO. Mr. Lowe said the pnj|)ei tv was nftt in a favoured rpsideliiial qiiaiter; . - j\!n AuKeflhi Perhaps that is h»raosp of ihe Chis (Joinptoiiy's ojieraliohS:. jVfr. Lowe: I don't think so. It all tlppprids ori flip view Voti tnke> Alt - ; McKenti: There is riot iriHfch View to iako with the gns eoiitairietfi tljpre. / Alt-; NotleT said seel ions on the* Ferlnmatioii iieor the Western AVharf were rated on the basis of an tocfij. , •Mr! Lowe: Those sectiolis have advantages over onie. AVe ore threeof a mile from the watefifdtit; Oplhitfii til Othe? Valuets fleplvittg to Mi's NotleV, Mif> t<owe ►aid tiig valiiatioii had stood at the inherit level foi- some reals. MK Mrifbari: Arid is the ptire of gas th° satiip as in fet'ent .rearsF Mr. Lowe: Yes. The tiriiriipVoyed vabie Of the profeit.y was placed at £8834 br Mr. 11. E. Wile arid Mr. >t. It. vTaeksoli, land valuers, win) gave evklerice on behalf of the oomparij-i Mr. Vaile jUodimpd n plarij showing thp property drawn up jrito 19 possible snbdivisioriS; , McKsdtti If we try td Upppss » this oil its value for residential purposes w-e would probably have to Jriakp a rednrtion of B0 per oent; Mr. Vaile said the pi ail was pi-e----pare»t to show the. riiaitimniii onlourit wliieli hiigiit be def.iv-ed if the proper tv were piit on the market. "My difficulty is to fetiow how to fix this vdliie so that it will oonforrii to Others m the.same area,' 1 said Mr. MoKeAri. "If I took the evidence of the valuers called by the company 1 wonld bare to reduce the assessment to £4OO. Thefe are A lVutubef- of propef;ties in the vicinity based oil ft much highef basis. It seeriis a great number of others -Wight successfully object.'* Aftei 1 ; consideration Mr. McKean said iie would toccept. the figures given by the iiiiiipany'R valuers for the Frankliri, t?oad and Scotland Itoad frontages, hut he would increase the figures submitted ill regard to the College tioad frontage. He accordingly j-pduced the annriaj ratefible Value from £3 600 to £?TO. Plight of Sedtlon-JloMern A plea that greater Cdnsidei-ation thnidd be given to section-holdel-R was made on behalf of a Point Chevalier folate. It was "pointed Out that most Fpctiofts now produced no revenue, as tbere Was no demand, whereas houseowbers at least derived pome revenue toward the payment of rates. "We hare tTied to meet these cases," Mid Mr. Kotley. "We hare made veductione in some cases, but most people havp regarded the reductions as mistakes on our part." (Laughter.) Mr/ MoKean made reductions, of which the following were irpieal:—• £l4 to £l2; £8 to £6; £<3 to £5. The assessed capital value of a buildfrig with frohtages to both Little Queen Street and Albert Street was disputed by the lessee, Mr. <seorge Henning. The' building is an old single-storey structure adjoining the Auckland Harbour Hoard's building and is used as garages and a fruit, store. Many years ago iVwas a timber mill. The frontage to each street is 00ft. and the total depth 121ft-. The existing Government capital valuation x»ns stated by Mr. Henning to be £1.8,750 and was made about ten ago. The city valuer's •figure was £IB,OOO. 'NTore Ca*es to be Kearrt ■pproy .lames Crump, valuer, called "by Mt. Henning, said his capital valnatinn of "tke land on a, freehold basis was £OOOO. The building was insured for £BOO and that was -about the proper I > alue It was just a shell and in a. very bad state of repair. Mr. MoKean said in view o( the fact, that the difference in valuation was so £rast it would bare been bettor bad the objector brought further evidence in support of bis contentions. Persona.lh\ be considered Auckland valuaiions tc bf high and had be the valuation of the buildings be might have made it even lower than Mr. Crump's figure. The matter w»s adjourned for further consideration. Mbtt of 'the Cases were struck out . through the non-appearance of the ohjpctors. Almost halt the cases were dealt with yesterday and the proceedings will, he continued this morning.