CITY LAND

Dominion, Volume 8, Issue 2271, 3 October 1914, Page 10

CITY LAND

VALUATIONS IN BUSINESS AREA

NO GENERAL REDUCTION

The Assessment Court continued its sitting yesterday to hear objections to the State valuations placed upon city property. Mr. W. G. Riddell presided, and the assessors wore Messrs. H. E. Leighto'n (for tho Valuation Department)'and T. Dwan (for the City Corporation).' ■ Respecting the fifty-one objections concerning the business area, tho president stated that the Court had unanimously decided that the valuations as a whole should be sustained. The Court, he added/' was prepared, ■ however, to hear evidence relevant to particular objections which had been'included in .this general decision ; The hearing, of particular objections was then, proceeded to, -and- in the'following cases the valuations were sustained:—. . ;. .. Watkins. Hull and Wheeler, Lot 111, reclaimed 'land, Johnston Street, about 35ft. by 85ft.; capital value £10,550, unimproved value £4550; value of improvements (objectors' estimate of selling values, £9500. £3500, £0000). It was contended that the unimproved value was.too high. H. E. Anderson, Lot 110, reclaimed land, Johnston Street, 35ft. by 81ft.; £7300, £4550, £2750 (objectors' estimate, £4850, £2100, £2750). It was submitted that rente were now much lower, and tho price of land had decreased generally. Now Zealand Loan and Mercantile Agency Co., Ltd., 157 ft. and 89ft. by 120 ft.. and 110 ft., £30.880, £17,257, £12,000 (objectors' estimate, £29,357, £15,734, £12,000). Tho item objected to was the owner's interest in the unimproved, value. It was not. considered by the objectors that tho increaso from £15,734. to £17,257 was justified. The Court upheld an objection by Sir Kenneth Douglas to the valuation on Lot 32, Hunter Street, whioh is 80ft. by 60ft. Tho State x valuation, was:— Capital value, £8050; unimproved value, £4050; improvements, £4000. The Court altered the figures to £7900 £3900, and .£4OOO. The objection was ;based mainly on ■ the contention that tho valuation was too high in comparison with, the valuations of adjacent properties • , . : • >'

Elovoii objections'were made on bclialf of the Wellington Diocesan .Board of Trustees to tho valuations of sectiona situated in Oriental Terrace. In soven' of _ the oasf!3 tho' valuations wore eusfcained In tlio other four (parts of Section 391), reductions were made as follow:—Allotment with 45ft. frontage C nP, 7aluatio!l reduced ■.from £1230 to flloO; fiSft.-frontage, from £1550 to M rsoft. frontage, £1325 to £1275; 100 ft. frontage, £2775 to £2275. _ : The Court went on to hoar five objections from property-holders-InMton Street. , Theso were Kir James Prondergaat (four one-awe sections, total capital valuation £13.505); William S. Wheeler (seetibn 40ft. by 171 ft.), capital valuation £.JSRS); fcdward .bmes von Bftdelszeti (seotion 33ft. by 17ft.) capital valuation £1530; Helen Eosi ectl n'ii§ ft - by 17 - lft ')< capital valuation £1SOO).. ; . . Mr. A. W. Blair, counsel for the objectors, said that the objections were on tho ground'of difficulty .of access to the properties. It was, he said.a steep street. ■. ••■..■■ Evidence wne ntill being heard when the Court adjourned till 10 a.m. to-day.