RATING IN CITY

Sun (Auckland), Volume IV, Issue 937, 2 April 1930, Page 1

RATING IN CITY

VALUE INCREASE AGAIN APPARENT £12,000 MORE THIS YEAR From the rating yield of the CitJ' Council this year, an increase of about £12,000 will be available, although the existing rates, 3s lljtd in the £l. will not be changed. According to the valuation roll taken by the City Valuer, Mr. P. F. Notley, before the Assessment Court last month, the rateable value of the city was £2,781,224. A reduction of £23,337 was made by the court and in compromises, and the net rateable value became £2,757,887. The council’s estimates of revenue and expenditure will be based on this figure. Last year, the value was £2,698,716. Large sums were attached to buildings at the Civic Square, the Auckland Electric-Power. Board Building, the addition to Smith and Caughey’s Building, and the South British insurance Company’s premises to swell the capital value of buildings erected during the year to £1,650,000. Valuations are judged on the annual rental value of properties. The value must be not less than 5 per cent, of the capital value. Plow the rateable value in Auckland has increased is shown in these figures:

Annual RatePercent. i ear. able Value Acres. Increase 1925 26 .. 1,972,628 9,427 7.1 3926 27 .. 2,130,709 9,427 8.01 392728 2,262,210 9,427 6.2 1928 -29 .. 2,552,173 18,827 12.8 3 929 30 .. 2,698,716 19,595 5.74 1930 -31 .. 2,757,887 19,595 2.2