TUAKAU RATES REDUCED.

Franklin Times, Volume 9, Issue 666, 9 September 1921, Page 5

TUAKAU RATES REDUCED.

INCREASED REVALUATIONS. Some months ago the Tuakau Town Board levied certain rates for the ensuing year on the old valuations. The town. v?'hs revalued a few months ago, and intimation was received from* the Valuation Department that the new* valuations came into force on April 1 of this year. The rate notices were, in the usual way, sent out on the new valuations which came into force as stated above. On the old valuations a rate was struck sufficient to meet requirements, but the increased valuations would bring in increased revenue. At Tuesday’s meeting of the Board, the matter of reducing the rates was introduced by the chairman, and it was unanimously agreed that a reduction should be made. The matter took some time to dispose of and finally it was agreed to reduce the rates by 37-48ths of a penny in tne £,-which is slightly over rid in the £. On the old valuations the followin'* rates were levied: Hospital and Charitable Aid l-3d in the £, Pukekohe East loan l-8d in the £, Whangarata special loan l-8d in the £, and the Tuakau Town Board special loan 2d in the S. On the new* valuation on the rate proposed to be collected, the estimated yield was £1515 4:; and the amount required was £1073 13s. It was, therefore, decided to collect the following rates: Hospital (4d, Pukekohe East Road loan l-16d, Whangarata special loan l-16fi, and the Tuakau special loan 1 7-16 d. a reduction of 37-48 d in the £. This will almost bring in revenue sufficient to meet requirements, but £lO 7s will have to be paid out of the general rate of lV>d in the £ to meet the obligations. The general rate remains the same. Without any unforeseen circumstances the Board wiJ be able to reduce the bank overdraft slightly. , _ The valuation of the Tuakau Town district in 1920 was £106,080. The revaluation in 1921 increased the figures to £140,475.