REVALUATIONS SOUGHT
COURT RESERVES DECISION MAKARA COUNTY FARMS Press Association. WELLINGTON, To-day. The Assessment Court reserved its decision in tho case in which it was alleged that the recent Government valuation of the two farm properties, Terawhiti and Te Kamaru, owned by the McMenamen family, in the Makara County, made it impossible for the holders to derive any profit from their operations. For the Valuation Department it was contended that the valuation was based on the average prices for the five years prior to and including 1916. It haid been contended that prices had not been increased since 1916. The recent valuation of the Makara County, however, showed- that there had been an increase of about 50 per cent. Among the witnesses for the owners yesterday was Sir Harold Beauchamp, chairman of the Bank of New Zealand, who stated that the trend of values in New Zealand is downward and not upward. Millions of pounds would have to be written off in the Dominion before land values could be placed on a proper basis, he said.
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Bibliographic details
Sun (Auckland), Volume I, Issue 175, 14 October 1927, Page 9
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176REVALUATIONS SOUGHT Sun (Auckland), Volume I, Issue 175, 14 October 1927, Page 9
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