ASSESSMENT COURT.

Gisborne Times, Volume XXVII, Issue 2593, 30 August 1909, Page 4

ASSESSMENT COURT.

REVISION OF VALUATIONS. TIMBER VALUES REDUCED. Mr W.< A. Barton, S.M., Messrs George Redpath and W. Aekroyd, sitting as the Assessment Court for the County of Waikoku, on Saturday gave the following judgment in the objection lodged by Peter Wright against the valuation put upon his property at Motu: His Worship said the question the Court was called upon to decide was whether the timber upon the land was, under the present-condition of things, of any value. The uni nip roved value was defined by the Valuation of Lands Act to* mean the sum which the owner’s estate or interest therein, if unencumbered by any mortgage or any charges thereon, and if there were no improvements on that particular piece of land, might be expected to realise at the time of valuation, if offered for sale on such reasonable terms and conditions as a bona fide purchaser might be expected to require. After careful consideration the Bench was unanimously of opinion, in all the circumstances, that the fact of the timber being upon tlie land it does not increase its value, and that if the land were put into the market for sale it would not be likely to realise a greater sum in consequence of the timber being there. For the reasons given the unimproved value would he reduced by £3600, and the capital value by the same amount. BOROUGH PROPERTIES. Mr W. A. Barton, S.M., Messrs George Grant and W. E. Aekroyd, sitting as the Assessment Court for the valuations made within the Borough of Gisborne, after hearing the evidence of R. J. Reyuolds, A. A. Waclismann and W. G. Skerratt, reduced tile valuation of Mr R. J. Reynold’s property Lytton Road, from the capital value of £3460 and unimproved value £3400 to £2155, the - area being under the Valuer’s estimate of six acres. Mr R. J. Reynolds also objected to the capital valuation, of £2024 and unimproved valuation of £2OOO on 21 acres, Waikanae subdivision No. 1. Tlie objector estimated the unimproved value at £525 and improvements at £25. Evidence as to the value of the land was given by Messrs A. A. Wachsmann and W.. G. Sherratt, and after the District Valuer had replied the valuation was reduced to £682 unimproved.. • The Court then adjourned.