Borough Rating.

Manawatu Standard, Volume IX, Issue 134, 12 May 1885, Page 3

Borough Rating.

As the Borough Council will probably have Sir Julius Vogol's telegram on tlio aubiect of borough rating under consideration at to-night'R meeting, the following reply forwarded by the Auckland Mayor to the Colonial Treasurer may possibly assist them m their deliberations: — The proposal to increase the powers, and also to adopt' the Eating Act, 1882, ifi desirable if provision could be raude for doing so upon the same principle as at present, viz.. the annual valuation to let, instead of the capital value taken only once m three years, and not always by the ntost experienced persons. The numerous changes, sales, and subdivisions of property m cities render it desirable that there should be an annual valuation of property, even althugh it may bo more expensive. No better instance of fluctuation m the value of property could be shown than has been experienced within the last two or three years hero ; the valuation, also, of leasehold property, a large portion of which the city possesses, fluctuates a great deal, and the valuations as. made under the Bating Act of 1882 does not represent the fair annual value. Valuations for meter supply purposes require to be annual valuations. This would render necessary a doublo valuation to be made, and appear m separate books. The capital value of property would greatly enhanc the office work, more particularly small rates. As an instance, a property of the annual value of £100, rated at Is m the £, now yields £6, the capital of value which property, say at even 10 per cent., | would be £1000, and if rate 1 at a penny I m the £ would only yield i' 4 3s 4d, and ! considerably decrease m rates would follow. During the past year there have been required nearly 500 special valuations for water supply by assessment. The Act of 1882 does not appear to pro* vide for valuation m new premises during three years, but only for change of ownership or. divisions of property. It is, therefore, not so well suitable for progressive towns or cities unless the provisions re valuation be altered."