BOROUGH VALUATIONS

New Zealand Herald, Volume LXXIV, Issue 22695, 6 April 1937, Page 5

BOROUGH VALUATIONS

REDUCTIONS IN CAMBRIDGE [from our own correspondent] CAMBRIDGE. Monday Ratepayers in the Cambridge borough have received notice of the revaluation of properties and in practically every instance the capital value has been reduced. All unimproved values are lower and, excepting where additions or improvements have been made to buildings, improved values have also been lessened. A number of private revaluations were carried out during the past five years. This action by ratepayers was-one of the main reasons why a general revaluation was necessary. The borough council rates for the coming year will bo levied on the new basis.* Comparing tho 1937 and tho 1929 rolls in the business area, the unimproved value has boon reduced considerably more in Duke Street, than in Victoria Street. The total value of throe properties on Victoria Street West has been reduced from £3120 to £3050, and three properties on Victoria Street East, from £1.0,225 to £0605. In Duke Street South a group of throe properties has been reduced from £1440 to £1095, and another group on the northern side from £2415 to £2280. Property adjoining the new theatre in Victoria Street \Vest has advanced in value, and that at tho eastern end of Duke Street has not been reduced as much as property nearer Victoria Street. Some of the older buildings in Victoria Street have reduced the average of improved values rather severely. One instance is of a wooden building bein" reduced to half its former value. Six buildings taken at random in Victoria Street were formerly valued at £16,625 and have been reduced to £l2 330. A group in Duke Street has been altered from £10,020 to £7250. Reductions throughout the residential area have also been in line with those of tho business properties.