5
FRIDAY, FEBRUARY 12, 1988
COPIES OF THE BOOKLET WILL BE AVAILABLE FROM DEPARTMENT'S OFFICES, AND AT DISTRICT OFFICES.
MARCH 1 AT THE
IN
COVERING
THE SPOKESMAN SAID THERE WILL BE AROUND 966,000 ASSESSMENTS THE NEW VALUATION LIST, SOME OF WHICH ARE BLOCK ASSESSMENTS, APPROXIMATELY 1,535,000 UNITS.
THIS WILL INCLUDE 2,300 ASSESSMENTS IN THE NEW RATING AREAS THE NEW TERRITORIES.
THE TOTAL RATEABLE VALUE WILL BE AROUND $78,000 MILLION.
THE OVERALL INCREASE IN RATEABLE VALUES 19 ABOUT 16.0 PER BUT FOR DOMESTIC UNITS IT IS ONLY ABOUT 11.1 PER CENT.
IN
CENT
ESTIMATE
ON
OF
THE
THE SPOKESMAN EXPLAINED THAT RATEABLE VALUE IS AN THE ANNUAL RENTAL VALUE OF THE PREMISES AT A DESIGNATED DATE, ASSUMPTION THAT THE PREMISES WERE THEN VACANT AND TO LET.
FOR THE 1988-89 REVALUATION, THE DESIGNATED DATE, KNOWN AS
1986. + VALUATION REFERENCE DATE, IS OCTOBER 1
PERIODIC
REVALUATIONS
ARE
THE
BECAUSE
LEVELS RENTAL, NECESSARY
FOR DIFFERENT CATEGORIES OF
CHANGE OVER TIME, BY VARYING DEGREES PREMISES, AND IN DIFFERENT LOCATIONS.
IN ADDITION, CERTAIN AREAS EXPERIENCE CHANGES AMENITIES, ACCR99IBILITY AND SO ON.
TO ENVIRONMENT,
THE REVALUATIONS BRING RATEABLE VALUES UP TO DATE IN REDISTRIBUTE THE RATES BURDEN ACCORDING TO THESE CHANGES.
ORDER ΤΟ
MAIN SOURCE OF FINANCE A PROPORTION TS ALSO PAID
THE REVENUE RAISED FROM RATES IS THE FOR THE URBAN AND REGIONAL COUNCILS AND INTO GENERAL REVENUE,
RATEABLE
VALUES RESULTING FROM
THE
THE OVERALL INCREASE IN
GOVERNMENT TO MAINTAIN REVALUATION WILL ENABLE THE COUNCILS AND THE
1988-89 AS HAVE APPLIED SINCE THE SAME PERCENTAGE RATE CHARGES IN
TO MAKE APRIL 1, 1986. CONSEQUENTLY, THE GOVERNMENT DOES NOT PROPOSE ANY CHANGE TO THOSE CHARGES FOR 1988-89.
15 PER CENT USUALLY APPLIES A REDUCED PERCENTAGE CHARGE OF
AND OF 7.5 PER WHERE THERE IS NO GOVERNMENT WATER SUPPLY AVAILABLE,
WATER SUPPLY. THE CENT WHERE THERE IS ONLY AN UNFILTERED GOVERNMENT DEMANDS FOR RATES WILL SHOW THESE REDUCTIONS WHERE APPROPRIATE.
CONCERNING PASSING ON OF RATE INCREASES
THE SPOKESMAN SAID
UNDER
ΤΟ DOMESTIC TENANTS,
THAT
IF THE RENT
1 PARTS
OF
OR
JI
OF A DOMESTIC
LANDLORD THE
PROPERTY AND
CONTROLLED (CONSOLIDATION) ORDINANCE, THE LANDLORD MAY INCREASE THE RENT AMOUNT OF INCREASE IN RATES.
IS TENANT BY THE
/INCREASES IN