AN ASSESSMENT CASE.
(Pirn Uxitcd Pr.Eßs Association.) WEtMNRTON, August 29. _ The Hntt Park and Racecourse Board, in which is vested the reserve formerly used as a course by the Wellington Racing.Club, objected to the valuation oi £24,000, op. the ground that it had only, a limited power of leasing. Tho Assessment Court ruled against the and it appealed. Mr Justice Cooper upset the decisioii; on tho ground that owing to tho condition und,er which the land is held the property hae no marketable value, as it cannot lio sold. The valuation must r.ofc be on a basis of unrestricted estate in foe simple, liut upon that of the limited powers n{ disposition. wbjcJi the appellants posscy,
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Bibliographic details
Otago Daily Times, Issue 13995, 30 August 1907, Page 5
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116AN ASSESSMENT CASE. Otago Daily Times, Issue 13995, 30 August 1907, Page 5
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