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Friday, March 1, 1974
RATING OF TSING YI ISLAND AND NGA YING CHAU
A number of owners and occupiers of premises cn Tsing Yi Island and the adjacent islet of Nga Ying Chau will become liable for rates as from April 1 this year.
Commenting on this, the Commissioner of Rating and Valuation,
Mr. R.A. Fry, said that this was in accordance with the government's policy of extending the urban rating system to developing areas, as announced
by the Financial Secretary in 1972 and again mentioned earlier this week in the 1974 Budget.
The new rating area covers the major developed parts of Tsing Yi Island including the power station, a number of factories and several of Hong Kong's largest oil storage depots. Copies of the plan, showing the extent of the new rating area can be seen at the offices of the Rating and Valuation Department, 1, Garden Road and at the District Office, Tsuen Wan.
The percentage rate charge on rateable values for this new area
will, as stated by the Financial Secretary, be 11 per cent for the first four years and, thereafter, that is in 1978, be brought into line with the other urban areas, which are presently rated at 15 per cent.
It was, however, emphasized that Tsing Yi town and the neighbouring villages which are not yet developed in accordance with a town plan have been excluded from the new area and owners and occupiers of such premises will not be required to pay rates at this time. Agricultural land which is entitled to exemption will likewise not be subject to rate charges.
/Tsing Yi
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VAN