INCREASE IN RATES

New Zealand Herald, Volume LXX, Issue 21577, 23 August 1933, Page 10

INCREASE IN RATES

NORTHCOTE BOROUGH REDUCTION IN VALUATIONS Rates totalling Is 1.202 din the pound on the unimproved value for the current year were struck by the Northcoto Borough Council at a special fteeting last evening. This is a substantial increase over the total of 9Jd levied last year.

The rate over the whole borough amounts to 8.736 d, of which 3.426 d provides the interest and sinking fund charges of £2BBB on various loans aggregating £56,713, and 5.31 d is for general maintenance and administration, street lighting and hospital and War Memorial Museum levies. The interest and sinking fund charges of £2261 on the sewerage loans of £38,600 are covered by a rate of 3.466 d on the unimproved value of £157,000 of properties within the special drainage area. The water consumers' rate is increased irom 2d to Id in the pound on the unimproved value, with a yearly minimum charge of 10 shillings. Non-con-sumers are to pay with an annual minimum of five / shillings. Meter charges are unaltered. The sanitation charge is £2 12s. The revaluation of the borough just completed resulted in a drop in the unimproved value from £252,000 to £202,000, and the lower valuation is one factor necessitating a higher rate. The possibility of £IOOO of the £SIOO rate arrears not being collected is taken into account, this including the rates owing on Crown mortgaged properties. The unimproved value in the special drainage area was reduced by the revaluation from £191,000 to <£157,000. A discount of 5 per cent is to be allowed for prompt payment of rates.