REVALUATION OF CITY.

Press, Volume LXIII, Issue 19063, 27 July 1927, Page 8

REVALUATION OF CITY.

WORK IN PROGRESS. Some members of the City Council anticipate a substantial increase in its revenue as a result of the revaluation of Christchurch, on which work has been commenced. One valuer ha* started operations, and the Valuation Department has in hand the arrangements for employing a full staff f° r the work. -It is unlikely that sufficient progress will be made to enable the City Council to strike next year s rates on the new values. Six years have elapsed since the last valuation, which the Council used in its rate demands the following year. In the case of property owners in districts which ha/ve already been revalued, an increase has talsen place, bringing the now values up to approximately "the sum which the owner's estate .. . may be expected to realise at the time of valuation it offered for gale ..." This definition, which applies both to capital and unimproved value, is being closely adhered to.

The Valuation of Land Act, 1926, gives property owners the right of appeal to the Valuer-General. Appeals are dealt with by an Assessment Court.

So far this year the valuations of the Akaroa County and the boroughs of Riccarton and New Brighton have been completed. It is stated that in the case of New Brighton the values have been increased by an average of about 50 per cent.