の
7
SPEECH BY THE HONOURABLE THE FINANCIAL SECRETARY IN LEGISLATIVE COUNCIL : WEDNESDAY 9 MARCH 1988
He said:
Rating Ordinance (Chapter 116)
Sir,
first motion
/sta
I move the resolution standing in my name in the
Order Paper. The provision seeks to increase the minimum
rateable value of tenements from $1,000 to $1,200 with
effect from 1 April 1988.-
Under section 36(1)(l) of the Rating Ordinance,
any tenement the rateable value of which does not exceed
an amount prescribed by a resolution of this Council is
exempt from assessment to rates. The purpose of this
section is primarily to reduce administrative cost. It is
not intended as a measure of exemption for small tenements
grounds.
on social or other gounds.
کچھ
The existing prescribed amount of $1,000 was
introduced in 1984. It is estimated that the cost of
collecting rates and maintaining an assessment in the
valuation list will reach $80 in 1988-89, while the rates
collected from a tenement with a rateable value of $1, ,000
will only be $60 at the prevailing rate. In view of the
S
need to optimize recovery and having regard to the overall
Per cent
increase of 17 in rateable values, the minimum rateable
value should be increased from $1,000 to $1,200.
A.
Sir, I beg to move.
Question proposed, put and agreed to.