CONFISCATING LAND PROFITS.

Shannon News, 29 February 1924, Page 3

CONFISCATING LAND PROFITS.

TAUMARUNUI BOROUGH COUNCIL’S * VIEWS.

LABOUR PROPAGANDA.

The following resolution has been passed by the Taumarunui Borough Council and has been circulated amongst all other Borough Council’s for an expression of opinion :—“That whereas the present system of municipal finance is unscientific and unsound, because the money borrowed for !the iniecessary municipal enterprises enhances the value of all land within the jurisdiction of the various municipalities and even beyond their boundaries, but the increased values mostly go to the individual owners and not to the municipalities, so that the generations to follow as communities will -only inherit the community debts, while a few individuals of succeeding generations will gather tifie increments. Economically, this is unsound as the activities of all communities and the money borrowed for reading, lighting, water, sanitary purposes and transport give value to the land, both urban and , suburban and therefore is a community created value and belong to the community creating it. Moreover, the repayment, of capital and interest makes for gain of private individuals non residents In the borough. ■ And whereas lands are bought and sold at inflated values and the residents and ratepayers do not share to any appreciable extent the enhanced values paid for town lots. The ref ire it is an urgent matter that in view cf the debts owing by boroughs and cities that increased land values and profits from the sale of :own secii* ns should accrue in part, -f net wm lly, to the municipality. Further it is desirable that the boroughs and cities be constituted the sole mediums »*f land sales and exchange at a modulate rate of commission and that it be a penal offence for any private l person or firm to act as land agents in regard to municipal lands.” “In order to give effect to the .above resolution a copy has been forwarded Ijo f.very municipality asking Ihcm; for an opinion and if replies, are favourable, Parliament, is -o bo requested to pass the necessa'y legislation to give effect to the resolution “ The resolution will rr>me before too Shannon Rorough (/ uncll :.* It? mxt meeting. -