NEW VALUES

New Zealand Herald, Volume LXXV, Issue 23178, 26 October 1938, Page 15

NEW VALUES

CITY ANI) SUBURBS FALL IN URBAN AREA EFFECT ON HOSPITAL LEVY GOVERNMENT ASSESSMENTS Largely because of revaluations of the Remuera, Epsom, Parnell and Grey Lynn districts, the total capital value of Auckland City, taken at March 31, 1938, has declined by £683,042 from the previous year: This decrease is based on valuations supplied by tho Valuation Department, the 1938 total being £49,361,3V2, compared with £50,044,39-1 in the previous year Tho department each year issues a return of tho rateable capital value of the city, suburban boroughs and adjoining town districts, road districts and counties, which is used by the Hospital Board to apportion its levy on the local bodies in its area. This return takes into consideration not only the revaluations of districts in the period, but all reassessments based on special valuations, new buildings, etc. Higher Suburban Valuations

In the present n-tance, all district valuations, with the exception of the city, and the Manukau County, which was revalued in the past year, show increases, presumably because of new buildings. The reassessments will give the city some relief in the distribution of the hospital levy at the expense of the outlying districts and suburbs. The new valuations shown as rateable capital value, with 1937 comparisons, are as follow:—CITY AND BOROUGHS Rateable Capital Value 1037 1038 C £ Auckland City .. 50,011,394 49,301,3.V2 Mount Eilcn .. 4,475,990 4.,601 ,o(is Mount Albert .. <l,l -7,224 4,11)8,770 Newmarket . .. 1.313.H52 1,333,557 Onehunga .. 2,•..•08,030 2,305,918 One Tree Hill .. 2,(;21,M1s .2,640,543 Devonpirt .. .. 2,133.004 2,151,205 Takapmna .. .. 1,8-13.41-' 1.85<.\529 Birkenhead . .. 772.380 779,131 Nurlhecte .. .. 515,031 521.31 >3 Otahuhu .. .. 1,340,207 1,384,091 New Lynn .. .. 519,980 534,581 Ellersiie .. .. 618,353 033.515 Papakura .. .. 397.3H5 404,353 Manurena .. .. 382,390 355.100 TOWN DISTRICTS Papatoetoe , .. 601,010 672,034 Hovick . . . . 234,840 243,225 Henderson .. .. 205,901 210,575 Glen Eden .. .. 207,493 207,846 ROAD DISTRICTS Mount Roskill .. 1,-34.231 1,878,301 Mount Wellington . 828,857 859,894 Panmure .. .. 60.595 6b,700 COUNTIES Manukau .. .. 4,879,348 4,630,678 "Waitcmata . .. 4,431,231 4,527,933 Oity Areas not Completed In the reassessment of Remuera up to March last the gross valuation declined by about 6 per cent. Somewhat similar reductions occurred in Epsom and Parnell. Grey Lynn's unimproved value showed an increase and there was a reduction in the improved value, the effect being a total reduction of about 1 per cent. Throughout the city the City Council returns show permits for new buildings in the year totalling £750,000, but this. figure was reduced for valuation purposes, and the effect of the reduction in unimproved values and tho depreciation of many buildings in the revalued areas more than offset the addition of new buildings. New valuations for several other portions of the city are to be issued next March, but not until March 31, 1910, will new figures be issued for the central and business portion of Auckland.