SHRINKAGE OF VALUES OF ENGLISH LAND.

Tuapeka Times, Volume XXVII, Issue 4258, 17 July 1895, Page 5

SHRINKAGE OF VALUES OF ENGLISH LAND.

An interesting return has recently been submitted by Mr Shaw-Lefevre to the House of Commons, which shows the charges on the ratable value of property in England and Wales. A quarter of a century ago laads used to make up more than a third of the ratable values assessed for local taxation. Buildings made up more than a half, the remainder was made up by railways and other property. The charges as summarised by Mr Shaw-Lefevre show that since 1870 the ratable value of land has been reduced by £6,180,000 or 15.5 per cent., and the total ratable value of land is now only £33,654,000 or 20.9 per cent., a little more than onefifth of the whole. The assessments of buildings have increased by £47,604,000 or 86 per cent., and they are now 63.7 per cent, of the whole. Railways have increased by £9,000,000 or 184.8 per cent., and their ratable value now stands at 8.6 per cent., or about one-twelfth of the whole ; and other property, including mines, waterworks, canals, etc., has increased by £5,887,000/* 117.6 per cent., and now stands at 6.8 per cent, of the whole, or about one-fifteenth. Upon those general figures, remarks the ' Daily News,' the depression of ' agriculture would be clearly enough proved, and yet they do not reveal the extent of that depression in certain districts. The average is swollen by the quantity of land near towns which "falls more slowly in value, by the residential value of land in districts like the Chertsey union, which has increased the rating, and by the maintenance of the ratable value in cases of certain pasture lands and other lands exceptionally situated.