Appendix B.
REPORT ON THE ASSESSMENT FOR THE YEAR 1932-1933.
By Order of His Excellency the Governor-in-Council a New Valuation of the whole Colony has been made and the Rateable Value has thereby been increased from $35,071,566 to $37,457,725, an addition of $2,386,159 or 6.80 per cent.
2. The following table gives a comparison of the Assess- ments for the year 1931-1932 and 1932-1933 : —
District.
Valuation Valuation 1931-1932. 1932-1933.
Increase.
Per cent.
$
$
$39
The City of Victoria
24,197,119
25.240.914
1,043.795
4.31
Hong Kong Villages
2,776,382
2,905,269
128.887
4.64
Kowloon
6.712,790
7,597,230
884.440
13.18
New Kowloon
1,385,275 1,714,312
329,037
23.75
Total
35,071,566 37,457,725
2,386,159
6.80
3. The increase in the valuation of the City of Victoria is partly due to the great amount of building that has been carried out on the new Praya East Reclamation, augmented by the Gloucester Building, the King's Theatre Building, the National City Bank and the re-opening of the old King Edward Hotel Building, now called the Chung Tin Building.
4. In the areas included under "Hong Kong Villages" there has been considerable building activity at Wongneichung, including the Jockey Club's Stables, and also at Tai Hang and Tunglowan.
5. In the case of Kowloon the increase is partly due to new flats at Kowloon Point, Chinese tenement houses at Mong Kok and the new buildings at the Cement Works.
6. In New Kowloon there has been a remarkable development at Shamshuipo which now extends right up to the Taipo Road, and a certain amount of building has taken place at Kowloon City on the new layout.
7. The total increase of $2,386,159 is the largest increase that has been made in any year, with the exception of the 1925-26 assessment, which reflected the great increase in property values due to the building boom of 1924-1925.
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