WHAT’S WRONG WITH DUNEDIN?
Sir,—Mr Silverstone’s table of figures might be evidence for rating on unimproved value if land values were independent or constant quantities. Land values are not independent or constant quantities; they are functions of the value of improvements. Everybody knows that an increase in land values follows an increase in the value of improvements. It is not known, though, whether or not the rate of increase imposed is the same throughout New Zealand. If it is not, a comparison of the ratio of improvements to land value, one place with another, would be deceptive. An increase in the value of improvements somewhere might be cancelled out by a disproportionate increase in land value there. This objection would be lessened if Mr Silverstone would state separately the value of improvements and the value of the land in 1929 and in 1940 at the seven places mentioned; and presuming there has been no change in areas.—l am, etc., Sept. 3. T. Gradgrind.
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Otago Daily Times, Issue 25941, 6 September 1945, Page 9
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163WHAT’S WRONG WITH DUNEDIN? Otago Daily Times, Issue 25941, 6 September 1945, Page 9
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