REPORT OF THE ASSESSOR FOR THE YEAR 1939.
The total Rateable Value of the Island of Hong Kong (including Aplichau), Kowloon and New Kowloon on the 31st December, 1939, was $43,077,122 as compared with $36,120,381 on the 31st December, 1938, representing an increase of $6,956,741 or 19.26% during the year under review.
2. The following table shows the distribution of the Assessments on December 31st, 1939, as compared with December 31st, 1938:
District Valuation Dec 31st, 1938 Valuation Dec. 31st, 1939 Increase Increase % City of Victoria $21,531,151 $24,724,303 $3,193,152 14.83% H. K. Villages $3,868,149 $4,589,050 $720,901 18.64% Kowloon $8,320,660 $10,600,096 $2,279,436 27.39% New Kowloon $2,334,421 $3,163,664 $829,243 35.52% Total $36,120,381 $43,077,122 $6,956,741 19.26%3. During the year under review the net revenue from rates was $6,776,168.00 as compared with $5,987,126.31 the previous year, an increase of $789,041.69 or 13.18%.
The refunds of rates in respect of vacant tenements, assessments cancelled, and tenements not rateable amounted to $31,033.28, compared with $52,788.39 in 1938, a decrease of $21,755.11, which figure, however, cannot be directly compared with the increase in the revenue from rates given above, owing to the effect of a preponderance of early or late payments at the beginning and end of the year and a number of other varying factors.
4. By order of His Excellency the Governor in Council a new valuation of the tenements in Hong Kong, Aplichau, Kowloon and New Kowloon was made during the year, being commenced at the beginning of the year and completed by the 1st June, 1939, on which date the List was declared before the Honourable the Colonial Secretary as required by law. The result of the new valuation was an increase of $6,412,450 or 18.06% over the Rateable Value obtained by the re-valuation made in 1938.
District Valuation 1938-1939 Valuation 1939-1940 Increase Increase % City of Victoria $21,346,621 $24,657,053 $3,310,432 15.51% H. K. Villages $3,828,927 $4,279,463 $450,536 11.77% Kowloon $8,118,336 $10,085,784 $1,967,448 24.23% New Kowloon $2,208,738 $2,892,772 $684,034 30.97% Total $35,502,622 $41,915,072 $6,412,450 18.06%