CITY WRONGLY VALUED

Sun (Auckland), Volume III, Issue 643, 20 April 1929, Page 16

CITY WRONGLY VALUED

RATEPAYERS OBJECT DECISION AT WANGANUI (Special to THE SUN) WANGANUI, Friday. Considerable dissatisfaction has been expressed recently by Wanganui ratepayers at the city valuations, and practically the whole of the valuations were objected to. This is the first valuation since the ratepayers decided, at a poll, on rating on the unimproved value instead of the capital value system. Mr. A. P. London, city valuer, explained that, to assess a fair annual value and to be on a minimum in which he could assess his value according to the Act, he assessed on a 5 per cent, basis of capital value, which he made himself. After considerable evidence had been adduced and arguments of counsel advanced. the Bench decided that the valuation list had not been prepared according to the list. It was clear the valuer proceeded on a wrong basis, namely, 5 per cent, of fee simple. His ruling was that there was no valuation list accoring to the requirements of the Act. It would be necessary for the Court to appoint valuers or a valuer to make such a list. Costs £lO 10s were allowed against the City Council. The next development will be the appointment of a valuer for the revaluation of the city.