TIMARU VALUATIONS.
QUESTION OF HOTEL PROPERTY.
By Telegraph —Press Association.
Timaru, last night. At the Timaru Borough Assessment Court to-day 154 objections were lodged and about one-third of them got through when the Court adjourned till Monday week. The total of the valuations dealt with is about £2340, and the total reductions on these is £335. There was considerable discussion over the case of the Empire Hotel, assessed at £3850, and a reduction of £IOO was asked for. It has been ronted at £4OO, and was recently sold at £BOOO, this being £SOOO for the property and £3OOO for goodwill. The objectors demanded that as tho assessment was based on the capital value it should not include goodwill. The S.M., who sits as Judge, declined to take this view, and the assessment was sustained. The Hibernian Hotel, £165, was reduced by £32. The Olub Hotel, £250, was reduced by £SO. The Sacred Heart Convent ground outsido the school and church, £55, reduced by half, it being only a correction of areu. On shops occupied by Ballantyne and Co., gross rent £360, valued at £320, the owner asked ten per cent, off, but it was not sustained. A small corner of a coal yard in the middle of the town, £45, was reduced to £ls. Those were the principal cases dealt with.
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Bibliographic details
Gisborne Times, Volume VII, Issue 394, 19 April 1902, Page 3
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221TIMARU VALUATIONS. Gisborne Times, Volume VII, Issue 394, 19 April 1902, Page 3
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