RATING ON THE UNIMPROVED VALUES.

Press, Volume LX, Issue 11478, 10 January 1903, Page 8

RATING ON THE UNIMPROVED VALUES.

MR ELL AT ASHBURTON

Mr Ell, M.H.R., addressed a meeting of about fifty persons at Ashburton last night, on the rating on unimproved values system. Mr David Thomas occupied the chair.

Mr Ell, during the course of a somewhat lengony address, gave some local examples, showing how the system of rating on land values would operate in Ashburton. For his information he had gone to official sources, the borough and Government land valuation rolls. The present rate is Is in the £ on the annual value system. To produce for the borough the same amount of revenue a rate of 3|d in the £ on the rateable land value wpuld have to be struck, the land value being £78,500. The great bulk of the building sites, quarter-acres, for residences, are valued at from £_Q •to £40, the majority of residential properties ranging from £I*o to —-._> annual rateable value—so that the rates on the land value of home sites, as above, would range from ss-10d to lis Bd, and on the annual rateable value from 12s to £1 ss. As to howbusiness sites are affected, a quarter of an acre in East street, where the best business sites are, is valued at £3500, another at £2500, one at £0200, twentyperches at £1000, and eleven perches at £800. The following are .examples of how the business premises are affected: — Bank of New Zealand, present system £12 10s," new system £14 lis 8d; Bank of Australasia, £6 and £7 5s 10,1; Union Bank, £12 10s and £1 ( 18s yd ; grain store in West street, £10 and £14 lis Bd. Under tbe new system a house valued at £52 on half an acre in Burnett street will be increased from £2 12s to £2 18s 4d. Mr Eil was listened to very patiently, and at the close of his address was accorded a very cordial vote of thanks.