Appendix B.
REPORT ON THE ASSESSMENT FOR THE YEAR 1935-1936.
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 $36,374,100 as compared with $38,641,856 last year, a decrease of $2,267,756 or 5.87 per cent, due to the fall in rents, particularly those of Chinese tenement houses, caused by the depression.
This is the greatest decrease during the last fifty years, the next largest being in 1892 when, owing to another depression in the Colony, the decrease was 3.15 per cent.
2. The following table gives a comparison of the Assessments for the year 1934-1935 and 1935-1936.
District Valuation 1934-1935 Valuation 1935-1936 Increase Decrease % Inc. % Dec. The City of Victoria $25,176,534 $22,621,874 $2,553,660 10.14 Hong Kong Villages $2,883,131 $3,504,962 $621,824 21.57 Kowloon $8,371,033 $8,044,854 $326,179 3.89 New Kowloon $2,212,151 $2,202,410 $9,741 0.44 Total $38,641,856 $36,374,100 $2,267,756 5.873. The decrease in the valuation of the City of Victoria is due mainly to the fall in rentals, and to a small extent, to the separation of the Hill District, which has been included with Hong Kong Villages this year.
4. The increase under Hong Kong Villages is due to the inclusion of the Hill District this year, otherwise the fall in rentals, which has only been slight during the year, is counter-balanced by the interim valuations of new buildings.
5. In Kowloon the decrease is due to the fall in rentals of Chinese tenements and European style flats.
6. Under New Kowloon the decrease shown is due to the fall in the rentals of Chinese tenements. This fall has nearly been equalled by the interim valuations of new buildings.
Appendix B.
REPORT ON THE ASSESSMENT FOR THE YEAR 1935-1936.
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 $36,374,100 as compared with $38,641,856 last year, a decrease of $2,267,756 or 5.87 per cent, due to the fall in rents, particularly those of Chinese tenement houses, caused by the depression.
This is the greatest decrease during the last fifty years, the next largest being in 1892 when, owing to another depression in the Colony, the decrease was 3.15 per cent.
2. The following table gives a comparison of the Assessments for the year 1934-1935 and 1935-1936.
District
The City of Victoria
Hong Kong Villages Kowloon
New Kowloon
...
Valuation Valuation 1934-1935 | 1935-1936
Increase Decrease] % Inc.] % Dec.
$
$
$
$
25,176 534 22,621,874|
2,553,660
10.14
2,883,13x 3,504,962 621,824 8,371,033 8.044,854
21.57
2,212,151 2,202,410
326.179 9,741
3.89
.44
Total
38,641,856 36,374,100
2,267,756
5,87
3. The decrease in the valuation of the City of Victoria is due mainly to the fall in rentals, and to a small extent, to the separation of the Hill District, which has been included with Hong Kong Villages this year.
4. The increase under Hong Kong Villages is due to the inclusion of the Hill District this year, otherwise the fall in rentals, which has only been slight during the year, is counter- balanced by the interim valuations of new buildings.
5. In Kowloon the decrease is due to the fall in rentals of Chinese tenements and European style flats.
6. Under New Kowloon the decrease shown is due to the fall in the rentals of Chinese tenements. This fall has nearly been equalled by the interim valuations of new buildings.
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