XN000022-1972-10-11 — Page 2

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Wednesday, October 11, 1972

Mr. Fry said that ratepayers have, over the past four years, benefitted

from a lower level of rateable values than would otherwise have prevailed and

they have therefore saved on their quarterly rates bill.

Last March, the Government anticipated the higher revenue which will

result from the revaluation and said that rates charges are likely to be reduced

Thus, from 17 per cent per annum to 15 per cent per annum in the urban areas.

for the majority of ratepayers, the effect of higher rateable values will be

cushioned to some extent.

The existing charges in the New Territories are already lower, and will

remain at 11 per cent.

There is, of course, provision for lower percentage charges where

a mains water supply is not available or where the supply of water is unfiltered.

The Commissioner added: "Ratepayers will naturally be anxious to know

how these increases will affect them, but figures have yet to be completed and

the final list prepared. Full details cannot be disclosed until December when

the Notices of Valuation are sent out."

Regular review of the Valuation List is necessary in order to relate

rateable values to current rental levels and to ensure that the changing pattern

of rentals is reflected in the Valuation List. This ensures general uniformity

and is fairer to ratepayers, he said.

Mr. Fry said it had not been possible to revise the Valuation List

earlier than the current year because of his department's extra responsibility

in administering the Rent Increases (Domestic Premises) Control Ordinance.

/Commenting