LAND VALUES

Dominion, Volume 8, Issue 2340, 23 December 1914, Page 7

LAND VALUES

SITTING OF THE COMMISSION A HAWSE'S BAY ESTATE A sitting of tie Valuation Commission was nold in the Parliamentary Buildings yestorday, when there wore present; Messrs, T.-F. Martin (chairman), E. A. Campbell, and J. G If.utlierford. The business related to the Mangaohane Estate in the Hawke's Bay district. Mr. C. 1Y Skerrett appeared for the owners (the trustees of tho late Mrs. 6. P. Donnelly), while Mr. C. J. Lovatt appeared for the Valuation Departmeut. Mr. Skerrett, in addressing the Commission, said that the estate contained some 16,000 acres, and was situated about' 45 miles from Taihape on the one side and about 85 miles from Hastings on tho other side. It was surrounded on all sides by property owned or occupied by Mr. G. P. Donnelly. The Government; valuation of the property was £46,000 (capital value), and, owing to the failure-to lodge an obiee-' tion, this valuation wa6 passed, but the trustees said ' that • the real ; value was only £30,000, and that the property Lad therefore been over-assessed by £16,000. The present position was that the property, which carried 7500 eheep tmd 100 head of cattle, was held on trust for Mrs. La Mort, a daughter of the late Mrs. Donnelly. The reasons why the trustees approached the Commission were: (1) It was desired to 6ell the property, and they could not ask the Supreme Court to sanction the sale unless a fair value was obtained, . and they were convinced there was no , chance of obtaining anything like the Government valuation; (2) it was desired to escape the extra taxation, as Mre. La Mort, being the owner of other property, was placed on the scale of graduated tax; and (3), it was desired to bring under tho notice of the Commission an anomaly that existed in the Act in connection with revaluations, there being an appeal ,if the revaluation resulted in an alteration. but ! no appeal when there was no 'alteration. Counsel then called evidence in regard to the value of the property Oscar Monrad, farmer and valuer, re- . siding at Palmerston North, stated that he had been entrusted with numerous sub-divisions by different clients to give opinions as to values, and waa recognised as a competent valuer of agricultural and pastoral estates. In. November, 1914, he had been instructed to make a valuation of the Mangaoliane Estate. He read a detailed statement, compiled from liis personal observations, and summed up the value of the property as £30,341 12s. 6d. Hugh Mills, head shepherd on' the Mangaohane Estate, also gave evidence. Mr. Skerrett then pointed out that in 1907 the capital value was £22,444, unimproved £16,244, and improvements £6200, and submitted that the present figures capital value £46,245, unimproved £36,500, and improvements £9745, showed an increase out of all reason as far as the unimproved value was, concerned.' His client's did not object to the value of the improvements. Mr. Lovatt, on behalf of ihe Valuation' Department, 6tated that the valuation had been made during the course of revision of the Erewhou Block. The usual formalities were complied with, and no objection had been lodged. He suggested that the owners should apply for a new valuation, and obtain the' right of appeal to the Assessment Court. It would, rest with the ValuerGeneral as to whether another valuer was. sent,:to\make the valuation or whot'her the same officer (the District Valuer at Hastings) revalued the property. Mr. Campbell: Tho, aggrieved party has now power to object to the same valuer being sent? Mr. Lovatt replied in the negative, ' and, in answer to a ; question by Mr. remarked that he did not see . why, there should be any objection to : the same officer being 6ent to make the evaluation. If the office)' made a mistake in the original valuation he : could afterwards alter it.

Mr. Sksrrett commented that that was not his experience of humanity. There was no further evidence, and Mr. Skerrett submitted that the Commission should consider the question of recommending the Department to send a new_ valuer to assess the property. He pointed out that in the matter of appeal his clients would be entirely' in the hands of the Department as to when an Assessment Court should be setup. Mr. Martin said the points raised would be taken into consideration. The Commission adjourned sine die. .* . —