CAPITAL VALUE OF GISBORNE.

Gisborne Times, Volume V, Issue 137, 20 June 1901, Page 2

CAPITAL VALUE OF GISBORNE.

There surely must be something radically wrong with the manner in which the capital value of the Borough of Gisborne is arrived at, that is at least if we are to accept the statement made by Mr J. W. Witty at the meeting of ratepayers of Haiti and Whataupoko last evening. That gentleman stated that the capital value of the Borough had decreased during the last three years by something over three thousand pounds. We have heard so much during the last few months about tho increase in the value of land in the town and suburbs that it is hard to accept such a statement as representing the true state of affairs in the Borough. After leaving the meeting last evening Mr Witty reforred to tho books of the Harbor Board, and found that there had in reality not been a decrease, but that the increase had been so slight as to be hardly worth mentioning. Tho capital value of the borough in 1889, according to the figures supplied by Mr Witty, was .£■298,000, and in 1900 £301,060. As against this wo have, according to the New Zealand Year Book, the capital value of the borough for 1898-9 given as £305,763, so it is clear that there is a mistake somewhere. During the last two years the borough has steadily progressed, and a great deal of building has been going on. A township has sprung up on the Waikanao, and , sales of properties have been recorded at greatly increased values, and yet we are informed that the capital value of the borough has not increased. This is a matter that requires tho serious attention of the Council, and we'hope to see the matter referred to by them at an early date.