VALUATIONS IN LAND.

Timaru Herald, Volume CXXV, Issue 18637, 5 August 1930, Page 16

VALUATIONS IN LAND.

UNIFORMITY REQUIRED. Reporting on matters dealt with by the Dominion Conference of the New Zealand Farmers’ Union to a meeting of the Wanganui Provincial Executive recently. Mr J. R. Frankin referred to efforts made to induce the Government to reach uniformity in the matter of valuing land. “This is most important,” he said. “There are too many valuations altogether. based on fancy prices in various districts. Some people are foolish enough to pay prices much above the land’s worth.” The speaker read the following report of a committee set up by the conference, which was adopted: The committee has to report that it met Mr Brook (Valuer-General> and discussed with him the recommendations made by it to the conference with regard to which the following information is now sent forward: “Notwithstanding Mr Brook's statement that the present basis of valuation is uniform, this committee is stiil of the opinion that the net productive value under average capable management should be the basis of all valuation, instead of the selling value, which is the present basis of valuation. “With regard to the conference of valuers suggested. Mr Brook informs us that such a conference has been convened for July 2. which conference will consider and discuss /ly further requirements. The following conditions of valuation were agreed to: (a) That the basis of valuation should be the net earning capacity over a reasonable period long enough to overcome the effect of disturbances due to violent fluctuations in the value of farm products; b) the proximity to markets, transport facilities and social services must be taken into consideration as advantages serving the land: (c> the consideration is already given to the rates borne by the properties valued.

“The valuations by the Lands Department and Valuation Department are practically in line at the present time; the Valuation Department being responsible for almost all valuations. With regard to the nomination by local authorities of a local representative to act with the Government valuer, the Valuer-Genreal considers this is not practicable under present conditions. He will, however, give instructions that all local valuers shall get as much local information as possible. The Valuer-General is quite nreoarecl to agree to a maximum period of ten yec.i'3 between Vie valuations, as a reasonable pro Tic! an.”