XN000022-1984-02-29 — Page 38

WEDNESDAY, FEBRUARY 29, 1984

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+THIS MEANS THAT IN 1984-85 THE INCREASE IN RATES FOR A TYPICAL SMALL DOMESTIC FLAT WILL BE ABOUT $18 A MONTH (FROM $90 TO #108) AND FOR A LARGE FLAT ABOUT $80 A MONTH, (FROM $400 TO $480).

+MOST RATEPAYERS WILL HAVE AN INCREASED RATES BILL, BUT A SMALL PERCENTAGE WILL PAY LESS THAN BEFORE. A NUMBER OF TENEMENTS WHICH HAVE HITHERTO BEEN ASSESSABLE TO RATES WILL BE EXEMPT, + SIR JOHN EXPLAINED.

HE POINTED OUT THAT TENANTS OF FLATS IN PUBLIC HOUSING ESTATES, WHO NOW REPRESENT SOME 43 PER CENT OF THE TOTAL POPULATION, WILL NOT BE AFFECTED IMMEDIATELY BY THE NEW RATEABLE VALUES.

THE BURDEN, HE SAID, WILL INITIALLY BE BORNE BY THE HOUSING AUTHORITY WHOSE RENTS, WHICH INCLUDE AN ELEMENT FOR RATES, ARE ONLY REVIEWED EVERY TWO YEARS AND TAKE INTO ACCOUNT INCOME LEVELS.

MOREOVER, RATE PAYMENTS ARE REGARDED AS PART OF THE RENT FOR THE PURPOSE OF CALCULATING PUBLIC ASSISTANCE, HE POINTED OUT.

SIR JOHN REPORTED THAT THE REVISED GENERAL RATE YIELD FOR 1983-84 IS $1.05 BILLION.

ALLOWING FOR NATURAL GROWTH, THE ESTIMATED YIELD FOR 1984-85 WOULD HAVE BEEN $1.18 BILLION.

HE SAID THAT WITH THE REVALUATION, THE REDUCTION IN POUNDAGE AND THE VARIOUS RELIEF MEASURES PROPOSED, THE ESTIMATED YIELD FOR 1984-85 WILL BE $1.35 BILLION, AN INCREASE OF $175 MILLION,

THE REVISED ESTIMATED YIELD FOR THE URBAN COUNCIL FOR 1983-84 ON THE OLD BASIS IS $1.01 BILLION. ALLOWING FOR NATURAL GROWTH, THE ESTIMATED YIELD FOR 1984-85 WOULD HAVE BEEN $1.06 BILLION.

WITH THE PROPOSAL, THE ESTIMATED YIELD FOR 1984-85 WILL BE $1.19 BILLION, AN INCREASE OF $135 MILLION, PROVIDING AN 18 PER CENT GROWTH FOR THE URBAN COUNCIL, SIR JOHN SAID.

DEBATE ADJOURNED

***

DEBATE ON THE BUDGET WAS ADJOURNED TO MARCH 28 AND 29 WHEN UNOFFICIAL MEMBERS WILL SPEAK.

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