Appendix B.
REPORT ON THE ASSESSMENT FOR THE YEAR 1934-1985.
By Order of His Excellency the Governor-in-Council a new valuation of the whole Colony has been made. The new Rateable Value amounts to $38,641,856 as compared with $38,941,273 last year, a decrease of $299,417 or 0.77%.
2. The following table gives a comparison of the Assessments for the year 1933-1934 and 1934-1935:
District Valuation 1933-1934 Valuation 1934-1935 Increase Decrease % Inc. % Dec. The City of Victoria 25,568,498 25,175,534 392,964 1.54 Hong Kong Villages 3,204,447 2,883,138 321,309 10.03 Kowloon 1,960,977 2,212,151 251,174 12.81 New Kowloon 8,207,351 8,371,033 163,682 1.99 Total 38,941,273 38,641,856 299,417 0.773. The decrease in the valuation of the City of Victoria is due partly to the fall in rentals following the depressed condition of trade in the Colony throughout the year, and partly to deductions made on account of water charges following the introduction of meters on the abolition of the rider mains.
4. Under Hong Kong Villages the decrease is due for the most part to the general depression in the Colony and consequent lower rentals.
5. In Kowloon the increase is due to the building of new shops and European flats.
6. In the case of New Kowloon the increase is largely due to Chinese tenement houses in Shamshuipo and some further building at Kowloon City on the new layout.
7. The number of tenements reported to be vacant averaged about 1,100 monthly, as compared with 439 last year. This is the greatest number of vacant tenements ever reported, the next highest number being 445 in 1927-1928, and is partly due to the building activity of 1932-1933.