NO CHANGE IN RATES

Sun (Auckland), Volume II, Issue 362, 24 May 1928, Page 10

NO CHANGE IN RATES

NEWMARKET FINANCES REDUCTION NOT POSSIBLE There will be no alteration in th« rates for Newmarket this year, and a consolidated rate of 3s 3d in the £. will again be struck. This decision was reached at the council meeting last evening, when the estimates for the year were reviewed. The rate is expected to yield £II,IW on the valuation of £81,163. The total revenue is estimated at £27,066, and the expenditure at £27,037 17s. A reduction of one penny in the £ was made in the consolidated rate last year. In view* of the increased hospital levy by approximately the same amount, it was not possible to effect another reduction this year. Of the £9,000 provided for in the interest and sinking fund charge* on loan accounts, £ 6,346 is in connection with the six street loans. A sum of £3,000 will be spent on street works this year. Of the £5.450 allocated to the waterworks account. £4,000 is payable to the City Council for water charges. Other large items include contributions to drainage and hospita. boards, and the Municipal Association, £2,758; administration and miscellaneous, £2,551; municipal buildings account, £1,722; and special grants temporary loan repayments, £760. The estimated revenue comes principally from the waterworks account £5,450; general account, £5,180; an rents, £1,760.