Appendix B.
REPORT ON THE ASSESSMENT FOR THE
YEAR 1936-1937.
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 $34,643,760 as compared with $36,374,100 last year, a decrease of $1,730,340 or 4.76 per cent, due to the further fall in rents, caused by the depression.
2. This is the second greatest decrease during the last fifty years, the greatest being 5.87% last year.
The following table gives a comparison of the Assessments for the year 1935-1936 and 1936-1937.
District Valuation 1935-1936 Valuation 1936-1937 Increase Decrease % Inc. % Dec. City of Victoria $22,621,874 $21,311,014 $1,310,860 5.79 H. K. Villages $3,504,962 $3,447,126 $57,836 1.65 Kowloon $8,044,854 $7,740,267 $304,587 3.79 New Kowloon $2,202,410 $2,145,353 $57,057 2.59 $36,374,100 $34,643,760 $1,730,340 4.763. The decrease in the valuation of the City of Victoria is due to the further fall in rents and would have been greater but for the interim valuations of new buildings, notably the new Hong Kong and Shanghai Bank, the Bank of East Asia and Marina House.
4. The decrease under Hong Kong Villages is due to the fall in rents mainly of European and semi-European houses and flats.
5. In Kowloon and New Kowloon the decrease is the result of the continued fall in rents, chiefly of Chinese tenement houses.
6. During the 1935-1936 rating year, refunds of rates were granted for vacant floors of tenements where the owners had elected at the last Annual valuation to obtain this concession. This entailed the addition of a large volume of work, which however was carried out smoothly.
7. The number of tenements and floors reported vacant averaged 3,700 per month. It is estimated that the vacancies represent about 6% of the total rateable floors and tenements of the Colony.
Appendix B.
REPORT ON THE ASSESSMENT FOR THE
YEAR 1936-1937.
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 $34,643,760 as compared with $36,374,100 last year, a decrease of $1,730,340 or 4.76 per cent, due to the further fall in rents, caused by the depression.
2. This is the second greatest decrease during the last fifty years, the greatest being 5.87% last year.
The following table gives a comparison of the Assessments for the year 1935-1936 and 1936-1937.
District
Valuation Valuation 1935-1936 1936-1937
City of Victoria
H. K. Villages
Kowloon
New Kowloon
$
$
22,621,874 21,311,014
3.504,962 3,447,126
8,044,854 7,740,267
2,202,410 2,145,353
36,374,100 34,643,760
Increase Decrease % Inc. % Dec.
$
1,310,860
5.79
57,836
1.65
304,587
3.79
57,057
2.59
1,730,340
4.76
3. The decrease in the valuation of the City of Victoria is due to the further fall in rents and would have been greater but for the interim valuations of new buildings, notably the new Hong Kong and Shanghai Bank, the Bank of East Asia and Marina House.
4. The decrease under Hong Kong Villages is due to the fall in rents mainly of European and semi-European houses and flats.
5. In Kowloon and New Kowloon the decrease is the result of the continued fall in rents, chiefly of Chinese tenement houses.
6. During the 1935-1936 rating year, refunds of rates were granted for vacant floors of tenements where the owners had elected at the last Annual valuation to obtain this concession. This entailed the addition of a large volume of work, which however was carried out smoothly.
7. The number of tenements and floors reported vacant averaged 3,700 per month. It is estimated that the vacancies represent about 6% of the total rateable floors and tenements of the Colony.
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