Roy Hendy

The City of Sydney adopted site-value taxation in 1916 by resolution of the City Council. There had been a continuous agitation directed against the taxation of improvements in the form of annual-value assessments on highly developed properties in particular as well as against the system in general. It was argued that no encouragement was given to the erection of modern buildings when faced with taxation calculated upon its total earning power. The removal of the rates on buildings encouraged their improvement as well as the erection of many fine new structures. Something in the nature of a transformation took place in the main business section where numerous large, modern office and other buildings were erected. The office buildings were well distributed. The system of rating on the unimproved capital value has encouraged the establishment of factory premises of all kinds. The eradication of large sections in slum areas has taken place because of the growth of industrialism in Sydney. The main factor, however, in this industrial growth has been that the City of Sydney has the greatest shipping port in the Commonwealth and has become its most important distribution centre. Town Clerk 1916*

No comments: