Wellington Raises More Money By Rates

Chronicle (Levin), 8 June 1949, Page 3

Wellington Raises More Money By Rates

WELLINGTON, "June 7. The total rates to be levied in Wellington this year will represent a 10 per cent. increase on 1948-49 but the rate in the pound will be less. Whether a ratepayer will pay more will depend on the unimproved value plaeed on his property by Valuation Department valuers in the reeently announced revaluations. In most cases, even with the reduced levy per pound, individuals will probably have to pay more. Last year the rate was 10 and 778-800th. pence in the pound. This finaneial year it will be about 9 and 143-800th. pence, or in round figures, 9d as against the prevous year's Ild. The council, which met today, aims to raise £867,500 in rates tipa •fi.nahcial year. -Last year rates produced £788,963. The-inprease *-in . the overall amount this year ' is a'ccduhte& for by higher costs for labour and materials. The capital value of Wellington City and suburbs has risen by 41per cen^. in 14 years and the Valuation Department now assesses it at £83,000,000. The unimproved value on- which the rates are levied, has inereased by 34 per cent. to £28, 500', 000, but that figure includes many non-rateable properties such as church and educatioptal buildings and Crown properties iiable to only speeial rates.