CAPITAL VALUE OF PROPERTY

Dominion, Volume 14, Issue 3, 29 September 1920, Page 10

CAPITAL VALUE OF PROPERTY

HUTT VALLEY DWELLINGS. A case of some important to landlords and tenants, particularly in the Hutt Valley, came beforo Sir. P. Hollings, S.M., in the Magistrate's Court yesterday, when Mr. R. T. Bailey, on behalf of the Labour Department, applied to have certnin dwellings at Lowor Hutt revalued. Jfr. J. A. Tripe appeared for Dwan Bros., agents for the owner. At a previous bearing of the caso Jfr. Rollings fixed the capital value of the properties lit and Mr, Bailey stated that additional evidence was now available which would show that the dwellincs were not worth the amount fixed by the Court. Several witnesses wore called, nnd the hearing occupied nearly the whole day. Mr. 'I'. Dwan ndmitted in the course of cross-examination that he hnd offered to sell the houses to the Labour Department at ii'lßo, nnd that the offer had been declined.

The Magistrate stated that it was clear from the ovidence that tho previous valuation was too high. If ho had had tlio estimates beforo liita when bo previously adjudicated on the matter, a lower capital - value would have been fixed. His Worship fixed t)ie oapital valuo at JMB7 per dwelling, which would allow of cv rental of 15s. per week. Costs amounting to ;C6 19.9. lid, were allowed the Labour Department.