CO129-548-1 Annual reports from various government departments 3-4-1934 - 11-6-1935 — Page 239

Appendix B.

REPORT ON THE ASSESSMENT FOR THE YEAR 1934-1935.

By Order of His Excellency the Governor-in-Council a new The new valuation of the whole Colony has been made. Rateable Value amounts to $38,641,856 as compared with $38,941,273 last year, a decrease of $299,417 or 0.77%.

2. The following table gives a comparison of the Assess- ments for the year 1933-1934 and 1934-1935: ---

District

Valuation Valuation 1933-1934 1934-1935

Increase Decrease % Inc. % Dec.

$

ន

$

$

The City of Victoria Hong Kong Villages Kowloon.... New Kowloon

25,568.498 25,175,534 3,204.447 2.883.138 8.207,351 8,371,033 163,682 1,960,977 2.212,151 251,1749

392.964

321.309

1.54 10.03

1.99 12.81

Total

38,941,273 38,641,856

299.417

0.77

3. The decrease in the valuation of the City of Victoria is due partly to the fall in rentals following the depresssed con. dition of trade in the Colony throughout the year, and partly to deductions made on; account of water charges following the introduction of meters on the abolition of the rider mains.

4. Under Hong Kong Villages the decrease is due for the most part to the general depression in the Colony and consequent lower rentals.

5. In Kowloon the increase is due to the building of new shops and European flats.

6. In the case of New Kowloon the increase is largely due to Chinese tenement houses in Shamshuipo and some further building at Kowloon City on the new layout.

7. The number of tenements reported to be vacant averaged about 1,100 monthly, as compared with 439 last year. This is the greatest number of vacant tenements ever reported, the next highest number being 445 in 1927-1928, and is partly due to the building activity of 1932-1933.

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