The Betterment Tax

Feilding Star, Volume XV, Issue 52, 30 August 1893, Page 3

The Betterment Tax

Under (he new Betterment BUI, the "ftucmeotod T«Jae" °f lands — that is, the bam on which the tax shall be asnetted—will be the difference between the tbluo appearing oo tbe assessment roll of tbe borough or county in force prior to tbe adrrrtising for tenders for the construction of tno railway trarcrsing «ucb land, and such raluo in tbe assessment roU iv force after the opening of tbe railway. An owner of private land liable lo contribution may elect to pay tlie tax on demand, or to allow it to remain as a debt due the Crown, charged as a lien on his laud, with interest at the rate of 6 per cent Occupiers of Crown lands »ball be liable for the betterment Ux as follows : — Leaseholders in perpetuity, or for twenty-one years and upwards, with the right of renewal and occupiers with right of purchase, or on the deferred payment or homestead system, shall be subject to tbe Act as if they were the owners ; while leaseholders of pastoral lands, or of other lands leased for a term not exceeding 21 years, shall be liable as if the amount assessed on those lands bad been charged upon them, and shall pay the same rate of interest as owners of private lands if tbe amounts are allowed to remain as debts due to the Crowu. If the ux on any native land ia not paid when required, the Native Land Court may make an order for payment. This order shall baye the effect of a mortgage at 0 per cent interest. Tbe money intended to be secured by it shall be due not earlier than after a period of 5 years.