Income of New Borough.

Patea Mail, 26 September 1881, Page 3

Income of New Borough.

Subsidies to localbodies being restored for another year, the borough of Patea will be benefited to the extent of £ 150. The .Government will give 7s fid for every pound of rates collected, provided that the rating shall not exceed a shilling in the pound of rateable value. The annual value within the borough area will probably reach £BOOO at the next valuation. The subsidy on that will be equal to a rate of about the pound ; so that in levying a shilling rate, the subsidy, will make it equal to a rate of in the pound. The town . rate has hitherto averaged ,9d and the County rate fid, making, together 15d. The County rate will cease within the ; borongh,and a shilling rate "will, with the subsidy, produce more than the present combined rates. The borough : might, continue to pay a rate of 15d, equal to the present sum ; and so provide a margin for expenditure on those improvements which are so desirable to carry us on briskly until the railway is completed through,. when, that also will give a fresh . impulse. If the present prosperous expansion qan be,kept going till the railway is finished, the poft ofi .Patea will have a ■ flourishing present and a safe future. The borough will ; be 'obnstituted about the middle of next month, and the income may be thus stated trr, . ■ t ■ \ .? ;; 3 * Rate of Is 3d in, the .pound* .JL.. £SOO Subsidy on shilling rate.. 150 ;. Receipts from various licenses... 300 Rents from leases ...i...... 330 Borough income £1,280 . The present town’s income is about this: Rents from leases ' . £330 Rate of 9d in the pound , 194 Town income .. £524 By making the town into a municipality, the: fits*; iesnlt/will be* an increase of £756 on flie year’s fticome, assuming the amount of rating to remain as at present. The borough will gain £3oo.*from the Connty for licenses which go at present to the County ; also gaining a subsidy as a municipality, and saving ’a sixpenny rate now paid to County. Ratepayers within the borough will recognise that the person or persons who moved at the right time to obtain a municipality for Patea,have thereby increased the town’s .income by £750 a year-—that is, more than ,doubled it at a stroke. Those who do good work for the public are entitled to a generous recognition. We commend the above facts to those rate- . payers who will shortly be called on to. elect a Mayor and nine Councillors. Do not reduce the rate in the* first year. Let it remain at Is 3d, and give, the new borough a good start.