The sun., 1913-11-02

determination of lease. and is fixed at
f1 for every flo in value of benefit.
Agricultural land IL again free and
leases not beyond twcnty-one years In
duration.
"rndeveoped land duty is fixed at the
rate Of Nd. per annum for every 20s.
| Of the site value of undeveloped land
All land where the site value does not
exceed f20 per acre. public parks and
| gardens. woodlands and other places
where the public are allowed access are
exempted under the act. while land kept
free from buildings in pursuance OF
some scheme of development and other
minor instances. escape taxation. as
also does agricultural land held under
agreement before the act. and similar
land occupied and cultivated by an own
or where the total land owned does not
exceed $500.
'~rhe mineral rights duty Of one shill-
ing in the pound Is not a land tax. hut
rather an income tax. and the amount
| collected f1243.4S3. should he deleted
from a general analysis.
"To secure these taxes a valuation de-
| partment has been established which at
the outset sent out about eleven million
/ IOfnS OeUlanUlnH W
it, to value properties
at will be apparent that an enormous
csst Immediately devolved upon prop
crty owners. who were already paying
an income tax, generously maintained
for the last ten years by paternal
| Government at a war rate Of shilling
2 pence in the pound. The Valuation
Department has cost up to March Of
| 49,. <Nr - 10
expenditure the land taxes have real
lied f22343 The cost to owners in
supplying information under profess
sional advice has been estimated at
over half million, and the decrease In
sales of London and suburban proper
ties at something like $4,000. 900.
For instance. in July last the trans
actions officially registered at the Es-
/ tate ENchancc were almost fl 900 900
less than in the same month last year.
! That decrease was. without doubt. at
trihutable to the generally prevailing
uncertainty and irritation in connection
with the land taxes. Freehold ground
, rents licensed houses and the usual type
/ of brick and mortar Investments have
! become almost a drug capital value
having fallen from 90 per cent. to 80
per cent.
"The fact that agricultural land was
not to he taNed had the effect of forcing
some of the most magnificent residential
estates on dull market and of course
it is In this direction that the dealings
haNo neon s.gnihcant. County councils
and other public bodies have powers
vested IN them under the small holdings
act to acquire suitable areas with the
nope "i satlSlyinE the so-calIed lana
hHnE'F Inc! nave taken advantage
"' ."Is r'H'Sia'ioh' ou' the high prices
pau lor i"rhis oy these oouies nave ma"
'"e e"eot o' "ia'''iah! ra's'"s '"e mere
''iuu. ''''ueia'e ''h'ais.
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