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FRIDAY, SEPTEMBER 13,
EX-GRATIA RATES FOR RESUMED LAND REVISED
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THE GOVERNMENT TODAY (FRIDAY) ANNOUNCED REVISED EX-BRATHA COMPENSATION RATES FOR RESUMED LAND.
THE RATE FOR AGRICULTURAL LAND IN THE NEW TOWN DEVELOPMENT AREAS OF THE NEW TERRITORIES AND THE URBAN AREAS OF HONG KONG AND KOWLOON WILL BE $48 PER SQUARE FOOT INSTEAD OF THE EXISTING $40.80 PER SQUARE FOOT.
THE RATE FOR BUILDING LAND WITHIN THE NEW TOWN AREAS WILL BE $84 PER SQUARE FOOT, COMPARED WITH THE PRESENT RATE OF $66.
THE RATES FOR LAND RESUMED OUTSIDE THE NEW TOWN DEVELOPMENT AREAS IN THE NEW TERRITORIES WILL BE THE APPROPRIATE PERCENTAGE OF THE BASIC RATES OF $40 PER SQUARE FOOT FOR AGRICULTURAL LAND AND $70 PER SQUARE FOOT FOR BUILDING LAND.
THE PRESENT BASIC RATES FOR AGRICULTURAL LAND AND BUILDING LAND ARE CALCULATED AT $34 AND $55 PER SQUARE FOOT.
→THE NEW RATES REPRESENT 18 TO 27 PER CENT INCREASE ON THE EXISTING RATES AND REVERT APPROXIMATELY TO THOSE APPLICABLE IN APRIL 1983, A LANDS DEPARTMENT SPOKESMAN SAID.
THE GAZETTE ALSO CONTAINS A LIST OF REVISED CURRENCY VALUE 8 OF NEW TERRITORIES LAND EXCHANGE ENTITLEMENTS (LETTERS A/B).
ACCORDING TO THE SPOKESMAN, THE NEW VALUES REPRESENT INCREASES BETWEEN 15 TO 30 PER CENT OF THE PRESENT CURRENCY VALUES, DEPENDING ON THE YEAR THE LETTER B WAS ISSUED.
BOTH THE NEW EX-GRATIA COMPENSATION RATES FOR RESUMED LAND AND CURRENCY VALUES FOR LAND EXCHANGE ENTITLEMENTS WILL COME INTO EFFECT ON OCTOBER 1.
PROGRESS ON JENKINS BILL MON I TORED
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REPORTS HAVE BEEN RECEIVED FROM WASHINGTON THAT THE CHAIRMAN OF THE HOUSE WAYS AND MEANS COMMITTEE, CONGRESSMAN DAN ROSTENKOWSKI, HAS ANNOUNCED HIS COMMITTEE WILL CONSIDER THE JENKINS BILL ON SEPTEMBER 19.
COMMENTING ON THIS, MR DONALD TSANG
MR DONALD TSANG, ACTING DIRECTOR OF TRADE, SAID. THIS IS NOT AN UNEXPECTED DEVELOPMENT. IT HAS BEEN CLEAR FOR SOME TIME THAT THINGS WOULD COME TO A HEAD FAIRLY SOON AFTER CONGRESS RESUMED.
/+ME MACLEOD,