CROWN TENANTS

Waipukurau Press, Volume XXVIII, Issue 64, 9 March 1933, Page 2

CROWN TENANTS

AND REVALUATION PROVISO ASSISTANCE BY OTHER MEANS WELLINGTON, Wed. Moving the second reading of the Reserves and other Lands Disposal Bill in the House of Representatives to-night, the Hon. E. A. Ransom explained the provisions suspending the right of Crown tenants to apply for the revaluation of their properties. The Minister said that between the third and sixth years of his lease a lessee had the absolute right to apply for a revaluation, and the determination of the district committee (consisting of the Commissioner of Crown Lands, the district valuer and one person appointed by the Minister) was final. Between the first and third years and after the sixth year revaluation could only take place if authorised by the General Revaluation Board. The Minister said that revaluation was not a permanent cure for the present troubles of Crown tenants, as many could not carry on even if revaluation were allowed. The Government had power to assist tenants over their difficulties by remissions and by other means. Arrears on ordinary leaseholds as at December 31, 1932, totalled £788,384, and those on account of Discharged Soldiers’ Settlement Account £473,533, a total of £1,261,917. Postponements totalled £340,893 (£207,994 or ordinary leaseholds and £132,Ba 9 in respect of the Discharged Soldiers’ Settlement Account). This made the total arrears and postponements £1,502,810. The Minister said concessions granted since April 1, 1 932, were as follow: —Remissions, £340,236; postponements, £265,099. Continuing, Mr. Ransom said that there was a tendency on the part of valuers to value on the present-day value of produce, thus unduly reducing capital. There were leases with a capital of £904,706 just coming into the three-to-six-year period, and if they were revalued to-day it would involve a large writing-down of capital. When sections were revalued the price was put down for all time. The proposal in the bill was to suspend for one year the right of Crown tenants to apply for revaluation in the hope that more normal times would soon be reached. It was not his desire to sustain high values, but it had to be remembered that heavy losses resulting from revaluations made during slump times had to be borne by the general taxpayer. It might ultimately be found necessary to adopt a lower standard of land values right throughout the Dominion, but piecemeal revaluations under present conditions were neither fair nor desirable. Revaluations would not place tenants in any better position to meet payments of rent. The bill was read the second time.