BIG RATE INCREASE

Waikato Times, Volume 121, Issue 20247, 16 July 1937, Page 8

BIG RATE INCREASE

CAMBRIDGE BOROUGH. ADVANCE FROM 0D TO 10iD. EFFECT OF RE-VALUATION. (Special to Times). CAMBRIDGE, Fridav. Due mainly to the revaluation of*th« borough and general rising costs, the Cambridge Borough Council has decided that the rates for the current financial year shall be losd, compared with 6d in 1930-37. The rates were fixed at the monthly meeting of the council last evening* when the estimates, providing for t total expenditure of £19,081, wen approved. The Mayor, Mr C. II Priestley, presided and also present were Messrs Edgar James, M. Wells, K. L. Wilkinson, W. Moore and Mr F. T. Ray (town clerk). Tlie increase has been made on the consolidated rate, which has advanced from Id to Sid. The general rate, which was formerly 1 9-32 d, is now 3 3-32 d, and is estimated to produce £2127. The effect of the reduced valuation is shown in the specie £21.000 sewerage loan, which require a rate of 2d to return the £1376 whirl last year was covered by 1 3-32 d The conversion loan repayments wit be met by a rate of 1 l-32d comparcc with 15-10 d. Hospital Levy. The borough's apportionment to the Waikato Ilu.-p iai Board was assessed before Hu* revaluation was finalised and is much higher than usual for this >ear only. Tlie levy is £7lO compared with £583 last year, and re- sA quires 1 l-32d, which is more than ~ double the 15-32 d levied in 1936-37. Street lighting has been exactly doubled from 7-3'2d to 7-16 d to provide revenue amounting to £302. In the near future the council will continue the widening of Duke Street and for this purpose a rate of id In the £ has been struck. The water rale remains unaltered at 2d for consumers and Id for non-consumers. The discount of 2j per cent, will be allowed on all rates paid within 30 days of the date of demand. The revaluation of the borough haa reduced the rateable value by approximately 25 per cent. The value is now £183,400, compared with £243,400, s reduction of £62,000. The total rate struck this year amounts to £8533, which is practically the same as the rate in the 1930-31 While the rate struck this year Is £8533, it is estimated that it wil’ produce £7681.