VALUATION OF LAND

Poverty Bay Herald, Volume LXV, Issue 19622, 3 May 1938, Page 7

VALUATION OF LAND

BOROUGH DECREASE HOSPITAL RATING EFFECT ADDRESS TO ROTARY CLUB The huge increase in land valuations throughout New Zealand, with particular reference to Gisborne and the district, were traced by Mr. H. P. Hamilton, valuation officer, in an address to the Gisborne Rotary Club today. , . , ■ Mr. .Hamilton quoted figures which went back to 1878, and pointed out big increases in values until the past decade, when Gisborne experienced, reductions. The reduction made at the last revaluation was commented upon by Rotarian C. A. Harries, secretary of the Cook Hospital Board, when moving a vote of thanks to Mr Hamilton. Rotarian Harries said that, borough Ratepayers would receive some benefit when the hospital uvy was allocated because of the reduced values at the last borough revaluation. The capital value of the land in Hew Zealand, Mr. Hamilton said, was £636,000,000, having increased from £99,500,000 in 1878. The manner in which the values in the North Island had increased, compared with those in the South Island was also shown, and the figures he gave were compiled in the following table: —

Recent Borough Reductions The 1926 figures were based on the 1921 revision, and at that time, Mr. Hamilton said, it was thought that Gisborne would boom. Then there were 2665 acres in the borough, the population being 13,000. The 1936 figures quoted above were based on the 1930 revision. Mangapapa and Haiti had been added to the borough, which was given an area of 3378 acres, the population being 13,587. During the borough revaluation, he said 5520 assessments had to be made, and it was often difficult to know how far to decrease values, for there had been few sales in the slump period to act as a guide. It had been necessary to determine the hub of Gladstone road, and grade the values down from there. Cook County Figures Figures given for the Cook County are tabulated below: — Capital Value £ 1895 1,961,000 191 g 7,506,000 / 1926 6,484,000 1936 5,274,000 In 1895, the Cook County comprised what is now known as the Waikohu and Uawa counties, the area being 1950 sq.miles, which was reduced in 1916 to 1082 sq.miles and a population of 7000. Ten years later the area was reduced to 796 sq.miles, and the population was 6700. The unimproved value on the 1928 revision was £2,365,000, and the area was down to 791 squniles. “I am starting on the revision of the Cook County now,” Mr. Hamilton proceeded, and I am not looking forwar to it. Since the ridings were cut out, the Gisborne riding comprising the’ flats finds itself very heavily rated, and I shall have to be very careful if I am not going to get a whole sheaf of objections.” In conclusion, he said he did not think that the values in the Gisborne Bono'ugh wpuld decrease any further, and, in fact, there should be a general rise, especially in the business area. Mr. Hamilton was accorded a hearty vote of thanks for his address, on the motion of Rotarian Harries. Rotarian F. T. Robinson was in the chair.

North South Island Island £ £ 1888 49,500,000 01,500,000 1891 57,000,000 64,000,000 1924 321,000,000 151.000,000 1936 426,500,000 209,000,000 Figures for the Gisborne Borough were given as follows:— Capital Unimproved £ £ 1885 27,500 1891 317,989 1906 941,757 1916 2.665,000 1,428,000 1926 5,670.000 2,444,000 1936 4,968,000 1,670,000 1937 4,361,000 1,265,885