BOROUGH RATES

Wairarapa Times-Age, 30 June 1941, Page 6

BOROUGH RATES

EFFECT OF REVALUATION INDIVIDUAL VARIATION. AGGREGATE REMAINS ALMOST THE SAME. The position regarding Masterton borough rates for the current year is set out by the Town Clerk, Mr G. T. O’Hara Smith, as follows: — “The sum to be raised by way of rates for the current year will in the aggregate be practically the same as that raised last year. The revaluation of the borough completed on April 1. 1941, shows a slight decrease both noon the unimproved and capital values as compared with the 1921 revaluation figures. The figures are as follows:— 1921, unimproved value ,£844,873; capital value, £3,144,080. 1941. unimproved value, £834,325; capital value, £3,132,224.

“The net rating values, that is, the gross values as shown above less properties that have been exempted from rating show corresponding slight decreases in consequence of which the same figure of rating in the £ must necessarily yield a slightly less amount of rates in the aggregate, but this amount would not be more than £3OO. Whilst collectively the rates will show little variation it may be noticed that general, separate and special rates vary to some degree either up or down as will be shown more particularly a little further on.

“Individual ratepayers will find, however, that their rates may be lighter or may be lower, this being due to a variation in their particular valuation assessment. There are a small number of objections against revaluations yet to be determined either by the Valuation Department reaching an agreement with the objectors or through the Assessment Court to be set up to deal with objectors. Rates for assessments subject-to objection, will be made when the position has been clarified, but the aggregate of valuations in properties subject to objection is so small that it need not be taken into account in .calculating the amount of rates to be raised.

“In deciding upon the rates for the current year the council has been actuated by a desire not to impose an increase in the aggregate upon ratepayers. Although receipts on general account, it is anticipated, will show a decrease of at least £lOOO upon last year’s estimate, and while provision has to be made in the current year’s estimates to meet interest and sinking fund charges on the new waterworks improvement loan of £10,500 it has been found possible to decide upon the rates without budgeting for increasing the amounts to be levied over last year's figures. “Examining the rates more particularly it will be seen that the decrease in No. 1 Conversion Loan rate from 2.95 d to 2.75 d in the £, the Northern Approach Loan rate from ,075 d to .05d in the £ enables the general rate to be increased from 4.625 d to 4.855 d in the £ without affecting the aggregate consolidated rate which remains at 8.6 d in the £ on the South Rating Area, being exactly the same as levied last year and 8.085 d in the £ as compared with B.oBd in the £ for Lansdowne Rating Area. “Coming now to the separate rates a reduction in the hospital rate from 5Jd in the £ last year to 4j'd in the £ this year and the street lighting rate from 2j cl in the £ to 2d in the £ this year has enabled the water supply rate to be increased from 2} per cent or 1 3-8 per cent levied last year to 3* per cent or 1 5-8 per cent this year. The increase in the waiter,rate will enable full provision to be made for the interest and sinking fund charges on the new loan as mentioned above and also the transfer of the £lOOO to the general account as well as making provision for a reserve for continuing the concrete lining of the water mains as deemed necessary. Other special rates remain the same as last year with the exception of the small Cole Street and) Lincoln Road Rate which has been increased from ,02d to .04d in the £ to provide an adequate amount to meet the interest and sinking fund.”