BASIS OF VALUING TIMBER IN HOUSES

Wanganui Chronicle, 4 October 1946, Page 6

BASIS OF VALUING TIMBER IN HOUSES

LAND SALES APPEAL

COURT HEARS ARGUMENT. (P.A.) Auckland, Oct. 3. A view that the price of imported limbers in 1942 should not be used as a basis for valuation of houses built previously of such limbers when 1942 values of houses were being assessed for purposes of the Land Sales Act, was expresed by Mr. Justice Archer in the Land Sales Court yesterday, which was hearing an appeal by the Crown against the decision of the Urban Land Sales Committee to determine the basis value of a house in Remuera, at £l9OO.

The Crown submitted the price was too high and the vendor opposed the appeal. Vendor was Robert Thomas (Mr. Jacobsen) and the purchaser David Maurice Curran. Mr. R. V. Kay, of Wellington represented the Crow n.

Evidence was given that the house, which was 20 years old, was constructed of Oregon, which, it was submitted by the respondent, had a life of 150 years, compared with 80 years, which was considered the life of a house built of New Zealand timber.

A Crown witness, Frank Cooper, valuer, stated in cross-examination that Oregon and redwood did not take borer . When asked if he knew that the price of Oregon in 1942 was £5 5s for 100 feet witness asked His Honour whether valuers were expected to value at the current cost of material, which was virtually unobtainable, and therefore was at a much higher price than usual. His Honour said he did not think they should do that. Witness stated that at the .time the house was built Oregon, redwood and cedar were competitive timbers with local timbers, and they sold at about the same price as rimu. He did not think they were superior to heart rimu or matai.

The Court reserved its decision.