LAND VALUATION
Mr. McGnire, M.TLR, asked in the House -whether the Minister iv Charge of the Valuation Department "would have the Land Valuation Act amended this session, so that Loans under the Local Bodies A.ct may be classed as improvements and deducted from the capital value. The Minister replied that when heavy lomis were raised in a district "Which necessitated heavy rates that it had the effect of deer asing the value of the land. That may he so ; hut it does not meet the case. In order to raise a loan to make a road a special district has to he formed, and aIL the land in such, special district, is informally mortgaged for the [money "borrowed. Say for ; instance, that a man has: to pay £10 ! per year special rate, this- means- that | £200 of the loan is charged, on his | property, which, to all intents and purposes is a mortgage for that amount. In all fairness he should then ho entitled to claim allowance for that amout in making out llis schedule of valuation the same as if it was money borrowed from an ©utsider for any other purpose of improvement.. — Opunake Times..
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Bibliographic details
Rodney and Otamatea Times, Waitemata and Kaipara Gazette, Volume 1, Issue 32, 8 November 1901, Page 2
Word Count
196LAND VALUATION Rodney and Otamatea Times, Waitemata and Kaipara Gazette, Volume 1, Issue 32, 8 November 1901, Page 2
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