NEWMARKET VALUES

New Zealand Herald, Volume LXXIII, Issue 22404, 28 April 1936, Page 7

NEWMARKET VALUES

RATING ASSESSMENTS SEVERAL REDUCTIONS MADE For the purpose of hearing objections to the valuation list for the Newmarket Borough, a sitting of the AssessCourt was held vesterdav, Mr. n M R - -^ lc . Kean > S.M., presiding.* Ihe objections listed numbered 27, but, owing to no appearance, 16 of these were struck out. The chief assessment reductions made were on a dwelling in Huntlv Avenue, reduced from £75 to £6B, a dwelling in Carlton Road from £9O to £62, tearooms in Broadway, Newmarket, from £l2O to £94, Rialto Theatre from £1450 to £1436 and the Rialto c.i'oaret and lounge room £146 to £IOO. The figures are all annual values. PROPERTIES IN THE CITY INCREASE IN VALUATION The total amount on which the City Council can strike its rates for the year 1936-37 is £2,506.69 ft, according to a report by the city valuer, Mr. P. F. Notlev, submitted to the City Council last night. It was shown that the total rateable value submitted to the City Assessment Court last week was £2.519,555 and the reductions authorised by the Court totalled £9S6O, or 0.3!) oer cent. Tho total rateable value for last year was £2,479,027, so that there is an increase of £30,668, or 1.23 ner cent. It was also stated that the total value for the city, exclusive of Orakei, was £2,502,623, less approximately £3OOO, being the concession allowed on the Urban Farm Land Roll, leaving £2,499,623 liable for full rates. The total of £2,506,695 is made up by the addition of the rateable value of Orakei, £7072, which is not liable for special rates. Mr. Notley added that prior to June 1, when the rating period starts, he anticipated an additional rateable value of £13,000 as the result of new buildings being completed since the compiling of tho list in January. He suggested that this additional value could be taken into consideration when the rates were being struck. This report was received.