SOLDIER SETTLEMENT.

Otago Witness, Issue 3774, 13 July 1926, Page 18

SOLDIER SETTLEMENT.

RESULT OF REVALUATIONS. Referring to the result of the revaluation of discharged soldiers’ property, and to the adjustment of the current accounts of the settlers, the Minister of Finance said in the Budget:— Following the revaluation of discharged soldier properties under the Discharged Soldiers’ Settlement Amendment Act, 1923, the Dominion Revaluation Board has been giving its attention to adjusting the current accounts of settlers in the manner authorised by the amending Act of 1924. As a consequence, reductions in capital of these accounts up to March 31 totalling £49,242 were made, while a sum of £5403 was transferred to suspense account. A summary of the position in regard to revaluation reveals: — £ Reductions in capital value of leaseholds .. 1,754,207 Reductions in value of buildings charged under leases .. 15,188 Reductions in mortgages .. .. 726,601 Reductions in current account 49,242 £2,545,238 In addition, substantial relief by way of remission of rent and interest has been given where deemed necessary, and in other cases postponement for varying terms up to 10 years has been arranged. The loss of capital entailed in these revaluations will in due course be written off the £13,500,000 advanced out of the Consolidated Fund.