XN000022-1973-03-06 — Page 4

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Tuesday, March 6, 1973

"Increases for offices, and shops in the prime tourist areas have

also doubled in many cases, whereas for factories increases on average are

closer to 50 per cent."

In the case of low-cost housing, increases were also substantial in

percentage terms.

The Commissioner noted, however, that there had been no revaluation

since 1968, "and rentals at that time were, in many cases, below the levels

of the early Sixties."

"As a matter of fact, a number of the new assessments are no higher

than they were in the 1964 valuation list, that is, nine years ago," he said,

Moreover, the reduced rate charge of 17 per cent to 15 per cent in

the urban areas would cushion to some extent the effect of increased assessments,

and in some cases ratepayers would actually pay less, he added.

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