Appendix B,
REPORT ON THE ASSESSMENT FOR THE
YEAR 1937-1938.
By order of His Excellency the Governor in Council a new valuation of the whole of the Island of Hong Kong, of Kowloon and of New Kowloon has been made. The new Rateable Value amounts to $34,208,734 as compared with $34,643,760 last year, a decrease of $485,026 or 1.26 per cent.
2. The following table gives a comparison of the Assessments for the year 1936-1937 and 1937-1938.
District Valuation 1936-1937 Valuation 1937-1938 Increase/Decrease Incr./Decr. % City of Victoria $21,311,014 $20,804,547 $505,467 2.38 Hi. K. Villages $3,447,126 $3,572,778 $125,652 3.65 Kowloon $7,740,267 $7,704,446 $35,821 0.46 New Kowloon $2,145,353 $2,126,963 $18,390 0.86 $34,643,760 $34,208,734 $485,026 1.263. The decrease in the valuation of the City of Victoria is due to a further fall in rents but shows the slowing up of the fall during the year when compared with the decrease of $1,310,860 last year.
4. The increase under Hong Kong Villages is due to new buildings, scattered about the Island, including Hill Crest flats on the Peak, coupled with the fact that the further decrease in rents during the year was small, and compares favourably with a decrease of $57,836 last year.
5. In Kowloon and New Kowloon the decrease is due to a further, though slight, fall in rents.
6. During the 1936-1937 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.
7. The number of tenements and floors reported vacant averaged 3,494 per month as compared with 3,700 last year. For April this year the number actually found vacant was 2,595 as compared with 2,997 in April last year.
Appendix B,
REPORT ON THE ASSESSMENT FOR THE
YEAR 1937-1938.
By order of His Excellency the Governor in Council a new valuation of the whole of the Island of Hong Kong, of Kowloon and of New Kowloon has been made. The new, Rateable Value amounts to $34,208,734 as compared with $34,643,760 last year, a decrease of $485,026 or 1.26 per cent.
2. The following table gives a comparison of the Assess- ments for the year 1936-1937 and 1937-1938.
District
$
Valuation Valuation 1936-1937 1937-1938|
$
Increase Decrease
Iner. Decr. % %
City of Victoria Hi. K. Villages Kowloon
New Kowloon
21,311,014 20,804,547
505,467
2.38
3,447,126 3,572,778 125,652
3.65
7,740,267 7,704,446
35,821
.46
2,145,353 2,126,963
18,390
.86
|34,643,760 34,208,734)
435,026
1.26
3. The decrease in the valuation of the City of Victoria is due to a further fall in rents but shows the slowing up of the fali during the year when compared with the decrease of $1,310,860 last year.
4. The increase under Hong Kong Villages is due to new buildings, scattered about the Island, including Hill Crest flats on the Peak, coupled with the fact that the further decrease in rents during the year was small, and compares favourably with a decrease of $57,836 last year.
5. In Kowloon and New Kowloon the decrease is due to a further, though slight, fall in rents.
6. During the 1936-1937 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.
7. The number of tenements and floors reported vacant averaged 3,494 per inonth as compared with 3,700 last year. For April this year the number actually found vacant was 2,595 as compared with 2,997 in April last year.
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