CITY RATES.

Dominion, Volume 4, Issue 947, 14 October 1910, Page 4

CITY RATES.

"■'; [THEIR RISE .AND:PAnU;; ■';.;:k ;"; ■ A' misprint. -in . the ' rate-demand jnst': -• issued has been .brought and should be.' corrected' to prevent; aiiy; V_ possible--'piisconceptwn- mi- the"■-:part;;- of; \ the ratepayer. It aracerhs. two; of .thaV rates- struck;6n the' unimproved' : value, ':■% The City Improvements'- Loan special rate ■:' is set down as: 1-IOdV whereas it should; ; be l-sd.| and theiate called.;the."lnterest - Special Bate"- oh .-.the. demand, 1 paper, -ia .. put. down as:- l-5d.,■-, where' it - should- be .' 1-lOd.'. The ; alteration' ■makes' no.• differ..-.-.'.■' ence in. the amount to be- paid.'.; Therp;,, is a., rise, howeverr-.in ■; the, rates ■ this >.--. half-year, ■ caused -by "the raising of the;.' rate from'. l-10d. :to .'■ l-5d.; on;.the ...City;: ■■,: ■ Improvements; Loan, .which'-rate,was re-'i;* duced for four years through the' tion--of a-surplus- fundr(ordered by,.the'■':.--Auditor-GeneralJ.which is now.exhausted. '■■; ; At • the ■ same time, the rate "was .then ;..'": reduced : froma9-6W.v'tol-10d. : in/tie.year '..'. that a general "rise" in lvalues..was/ made,,;. so; the reduction:was;not. .worth.-its;face.-..,. value.' Still; it~-.is interesting -to .note '-. how:'the Tate', on that particular .loan;'■ .(City: Improvementsj; J100.000,' which has.-.;/ a. currency .from' September.:l, 1879,; to'■'. September" 1,,1929, bearing interest: at;the,:. rate of 6 :per:''cent;)' L has;changed.-: -In 1 -:,; 1902-3 it was--7-16d., ih:i9034,',.5-16d.; rin;..' 1904-5," id.,/1905-6, 19-6 M. ..Then, came •a'.-;':; revaluation, the. rates -dropped.as! the;".., yalues,;rose,-' : and the City Improvement irate'dropped to l-lpd..:-.Now : :it:is;:up again;; - to 1-s'd:;. but- the' value' of 'properties' have ; : not been reduced,; though',"they'-: have ; re-; '; ceded: a': little, all round, : and :.appreciably;. ■' 5 in some,case's.;;';;' :: ;;i;-?;,-' ;;'■;:;.