XN000022-1975-12-13 — Page 2

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SATURDAY, DECEMBER 13, 1975.

N.T. RATEPAYERS TO GET NOTICES OF RATEABLE VALUE

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THE RATING AND VALUATION DEPARTMENT IS SENDING NOTICES OF RATEABLE VALUE TO RATEPAYERS IN A NUMBER OF NEW AREAS IN THE NEW TERRITORIES WHICH WILL BE BROUGHT INTO RATING NEXT YEAR.

THE AREAS ARE YUEN LONG, TAI PO, LUEN WO MARKET, ON LOK TSUEN, SHEK WỤ HUI, TUEN MUN, SHA TIN AND THE CLEAR WATER BAY ROAD AREA,

PREMISES IN THESE AREAS, WHICH WERE SPECIFIED BY THE COVERNOR-IN-CCUNCIL FOR RATING PURPOSES IN JUNE THIS YEAR, WILL BE LIABLE FOR RATES WITH EFFECT FROM APRIL 1, 1976.

A SPOKESMAN FOR THE DEPARTMENT SAID TODAY (SATURDAY) THAT PROPERTIES IN THE URBAN AREAS AND IN CERTAIN PARTS OF THE NEW TERRITORIES, INCLUDING KWAI CHUNG, TSUEN WAN AND TSING YI, WERE ALREADY ASSESSED TO RATES.

THE INCLUSION OF THE NEW AREAS FOR RATING WAS IN CONFORMITY WITH THE GOVERNMENT'S PREVIOUSLY ANNOUNCED POLICY OF EXTENDING RATING TO DEVELOPED AND DEVELOPING PARTS OF THE NEW TERRITORIES, HE SAID.

NEVERTHELESS, AS HAS ALREADY BEEN MENTIONED, BY VIRTUE OF RECENT AMENDMENTS TO THE RATING ORDINANCE, VILLAGE HOUSES IN CERTAIN DESIGNATED AREAS ARE TO BE EXEMPTED.

THE SPOKESMAN ADDED THAT THE PURPOSE OF SENDING THE NOTICES OF RATEABLE VALUE WAS TO INFORM RATEPAYERS OF THE RATING ASSESSMENTS PROPOSED FOR THEIR PROPERTIES.

HE EXPLAINED THAT, ALTHOUGH THE RATEABLE VALUE OF ANY PROPERTY WAS BASED ON AN ESTIMATE OF ITS ANNUAL RENTAL VALUE, THE DEPARTMENT, IN FIXING VALUES, HAD TO TAKE IN CONSIDERATION THE LEVEL OF VALUES IN OTHER AREAS WHICH WERE ALREADY ASSESSED TO RATES.

+SINCE RATEABLE VALUES FOR PREMISES IN OTHER AREAS HAVE NOT BEEN REVISED SINCE 1972-73,+ HE SAID, +VALUES ARE GENERALLY BELOW CURRENT OPEN MARKET RENTALS AND THE SAME WILL APPLY FOR THESE NEW AREAS.+

+ IN ADDITION, BECAUSE OF THE DISTANCE FROM THE MAIN URBAN AREAS AND THE LACK OF CERTAIN SERVICES,

RENTS GENERALLY ARE LOWER THAN IN THE URBAN AREAS AND THUS HATEABLE VALUES, TOO, WILL BE LOWER.*

TO ILLUSTRATE,