XN000022-1973-11-09 — Page 2

Friday, November 9, 1973

MEASURES TO DISCOURAGE HOARDING OF DOMESTIC PREMISES

Owners Of Unoccupied Units To Pay Full Rates

As from next year, owners of domestic premises will not be

able to claim a refund of rates when the premises are unoccupied.

At the same time, vacant domestic units in new buildings completed

after January 1, 1974 will be assessed to rates after three clear months

from the day of issuance of occupation permits instead of six months as

at present.

These are some of the proposed changes set out in the Rating

(Amendment) Bill 1973, published in today's Gazette.

Under the amending Bill, vacant domestic premises within a new

building certified for occupation on or after January 1 next year will

not be assessed to rates until three months following the issue of the

occupation certificate.

If the premises are occupied earlier, however, they will be

assessed to rates from the first day of the month following occupation.

Commenting on the new Bill, the Acting Commissioner of Rating and

Valuation, Hr. T.F. Edwards, explained that at present a refund amounting

to half of the rates paid was made on all unoccupied premises.

The new measures, he said, were being introduced to encourage

owners to put their vacant premises back on the market as soon as possible

and to encourage the early occupation of new buildings.

/Mr. Edwards