THE VALUE OF POMAHAKA.

North Otago Times, Volume XXXVII, Issue 8161, 16 April 1895, Page 4

THE VALUE OF POMAHAKA.

Reduced L 2 per acre. Tho question of the rateable value of the different allotments on the Potuahaka estate came before Mr Hawkin?, S.M., ab (he Assessment Court at Balclutha on Wednesday. No formal objection had been lodged l>y the settlers, but it had been mutually agreed between the valuer, Mr Nelson, and the settlers that the matter ahould be decided by the Assessment Court, The valuer said that he had arranged the values on tho I'asU of tho rents paid by the settlers iv accordance with the Rating Act Hia Worship, however, conaidcrod that though tho lvnts might bo nccopted in a general way, yebib could not bo accepted absolutely as tho value. In reply to this the valuor suid that if His Worship was not prepared to accept the value on tho basis of tho rents p*id ho would bo willing t ) allow a reductiou of 30 per cent, or or a reduction from about Li to L 2 153 His Worship then asken tho valuer if ho wishod him to understand that though he considered that ho had to accept tho rent as a basis of value, thab was not in accordance with his own ideai of tho values, to which tho valuer replied in the affirmative- Ihe question of the va'uea sot against tho properties adjoining the Pomahaka settlement was then gone into. Clydevale, all fenced, highly improved, aud largely in English grass, was valued at L 2 10a an acre. The Waii una estate, which was also im» I roved to a substantial extent), was vnlupdnC'L2 los nn acre. W. Mitchells and C B. Howes farm", situated at the Clinton end of the estate and formerly parb of ib both subdivided and largely in English grass was va'ued, tho former ab L 3 nnd the latter at L 3 10a. Ilia Worship and that if tho Clydevale estate was valued at only L 2 10j, he could nob see how he could rato the Pomahaka setblers at L 3 10s. Ho did not think he would bo doing justice to them if he did so. His Worship then went into question of the improvement effected, and the mouey spenb on loading in the GBtate, tho county ohairman, Mr D. Wallace, explaining the monies thab had been spent on roads and bridges, etc. His Worship, in fixing the assessment, said he could nob fix ib higher than L 2 an acre. Taking into consideration the values seb against highly improved estates and farms adjoining, he did not thiok it would be fair or just to value the Pomahaka settlers at over L 2 an acre. If this value were increased then ho would say that in comparison with the values of the other properties all the values in the district would have to bo considerably increased Taking the capital value at L 2 an acre, this would givo ab 5 per cent a rental of 2s per acre per annum Tho •>e'tlerd pay nearly double thia rental.