Rating on Unimproved Values.

Taranaki Daily News, Volume XLVII, Issue 7755, 6 March 1905, Page 2

Rating on Unimproved Values.

♦ SOME INTERESTING FIGURES In view of tho poll of ratepayers to take place on Thursday, the Kith inst., to decide whether or not the system of rating on unimproved land values shall supersede the existing, method in the borough, a few ligures | on the subject, courteously supplied! to a Daily News representative by! the Town Clerk, may prove instruc-; tive. , The valuation for the year 11)05-06, under the present, system totals £53,-. 800, and on a general rate of Is 9d in the £ and special rate of lOd the | revenue derived from rates would j be £6949. The unimproved value of I all rateable land in the borough, according to the Government valua- i tion which it would be compulsory to I adopt, is £55(5,000. On this basis it would be necessary to strike n rate of 3d in the £ to produce the same amount of rates as is raised under the existing annual value system. The water rale of 6d in the £ will not be affected should the ratepayers decide an unimproved values, the same charge being levied under either system. The figures which follow, therefore, deal only with tho ordinary rate of Is 9d and special rate of lOd. The instances (quoted are selected from the rate book in order to show the comparative figures for various classes of properties in the different localities. In the case of a well-known hotel in town, but not quite central, the capital value is at present set down at £6600, on whicli the landlord is rated at £62 per annum. On the unimproved va- I luc, lixed by the Government at £2760, the occupier would only be: called upon to pay £34 10s per annum. Another up-to-date hotel in' tho main street is now rated on a I capital value of £BSBO, annual value : £SOO, paying £Ol lis 8d for thisi year. Under the new system it' would Tie rated at 3d in the £on | £5580, equal to £O9 15s. This : shows a slight increase, owing to the valuable situation of the land. A well-known medico, with a nice class of residence situated two or three minutes' walk from the main street, at present pays £l2 5s 5d per annum, but sett'ing aside the improvements he would only have to pay tho reduced amount of £0 17s 6d. A brother physician at present paying £lB Is 8d on thrqe sections would on 'the unimproved basis only pay £l2 iis 9d. Still another professional man with two sections! in Powderham Street, on a capital ' value of £1565, is now called up- | on to hand £l-2 5s 5d to the Coun- I. cil, whereas irrespective of improvements the property would be valued , at £6OO, on which the rate would bo i reduced to £7 10s. Three shops, I. fairly central, now rated at £2-70 per annum on a capital value of ! £4920, would on the unimproved basis be valued at £3570. Thus the owner would on the new system have to pay £44 12s Gd per annum as compared with £34 17s 6d at pre-, sent. The property being valuable city land would tnus be taxed to the extent of £9 15s more than on the annual value. Another business establishment rated at £9O [>er annum, capital value £1795, would be lixed ut £1415 on the unimproved system, and pay £lB Is 3d, 1 as against £ll 12s Gd at present, ' an increase of £G 8s 9d. Other instances are as follows : Property in Lemon Street : Capital value £4BO, annual value £3O, rate £3 17s Gd ; unimproved value, £2OO, rate £2 10s.' Property in Pengaivos street : capital value £471, annual value £2B, rate £3 12s 4d ; unimproved value £2OO, rate £2 10s. Property in Aubrey street : capital value £215, annual value £l6, rate £2 Is 4d; unimproved value £IOO, rate £1 ss. Property in Courtenay street : capital value £285, annual va'lue £2O, rate £2 lis Sri ;. unimproved value £l5O, rate £1 17s Gd, Property in Leach street: capital .value £235, annual value £l2, rate £1 lis ; unimproved value £125, rate £1 lis 3d. Of course a great deal depends up|on locality 'in lixlng the un'improvedi l.values,; but the above are typical instances* as to the effect all round. The reductions on improved' properties under the new system would have ,to bo made up by the additional revenue from vacant sections and the more valuable city land. A vacant section worth £2OO at present pays .£1 os in rates, whereas under the new system it would pay £2 10s Generally shaking, this applies to | all vacant (land, the rates in almost •very case being nearly double the |amount at present paid. A couple ,of instances will show how the iiirurcs work out : b | iVacant section in Hino street : pre-' sent capital value £2OO, annual val- ■ tie £9 rote £1 3 S 3d ; uniuiproveH value £2OO, rate £2 10s, ulu *" ov ™ I Vacant section in Hine street : capHail value £175, annual value £lO ftUo.il 5s lOd ; unimproved value' £l«v>, rate £2 3» 9a, Vacant section in Gaiue street • rlor ™ tc t *i„ lls : »«*»pmv«l value £225, rate £2 16s 3d. These ligures may prove of some kh?™"T t0 »»t°P»J«™ to eSSto then to wme to a decision „,, "he kudition, which must bo locicallv faced. Whether the vom of a change or nof it is laid .down by the act that another poll , cannot be taken within a period o ,three years, A bare majority of I the votes cast'either way will do- ' ride the feAie, If the poll declares I for the new system it will b~o dnjtiatcd next year.