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The Pamphlet Collection of Sir Robert Stout: Volume 74

Rating on Unimproved Value

Rating on Unimproved Value.

There was a measure proposed last session providing for rates being levied on the unimproved value of property, and, its application being made optional, it passed the Lower House Many thought it would be an advantage in the country district but he questioned its effects when applied to towns, and asked the Treasurer whether he was right. He instanced the effect of the proposed measure by supposing two similar properties the unimproved value of each was £500. On one property there was a good building, the improvements being valued at 2,400, making the total value £2,900, and on a penny rate at present that property would pay £12 Is 8d a year. In the other property the improvements were only valued at £100, making a total value of £600, and that, at the present rate of one penny, would pay £210s Those two properties would together pay £14 11s 8d and to obtain the same revenue they would each have to pay, provided they were rated on unimproved value, £7 5s 10d. The rich man with the fine building would have a reduction, but the difference would be made up by an addition to the rates of the poor man. They would thus see that rating on unimproved values, applied to towns would have to receive very careful consideration, and it would be for the ratepayers' to consider which was the better principle. He would just refer to