This document from 1907/8 shows how ratepayers’ assets were valued to determine their rates. Everywhere throughout the document are the words ‘Unimproved Value’. Unimproved value refers to the likely value of a piece of land without improvements such as houses, fencing or levelling. This manner of valuing land for taxation was linked to economic thought at the time. If a landowner developed land it seemed unjust to penalise him.
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Reference: City of Christchurch yearbook, 1907-1908, p. 21
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