XN000022-1984-03-22 — Page 7

THURSDAY, MARCH 22, 1984

9.6

7.8

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER NOVEMBER 7, 1983 AND BEFORE FEBRUARY 10, 1984; AND

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER FEBRUARY 10, 1984 AND BEFORE MARCH 23, 1984

BUT ALWAYS SUBJECT TO THE GENERAL RULE THAT INTEREST CEASES TO ACCRUE AFTER 36 COMPLETED MONTHS WITHOUT SURRENDER FOR PAYMENT OF TAX.

EXAMPLE:

$1 000 CERTIFICATES PURCHASED ON MARCH 26, 1984, APRIL 26 1984 AND MAY 26, 1984 RESPECTIVELY, SURRENDER IN PAYMENT OF TAX DUE ON JUNE 26, 1984 WILL HAVE INTEREST CALCULATED AS FOLLOWS:

ON $1 000, MARCH 26, 1984 TO JUNE 26, 1984 THREE COMPLETE MONTHS AT $4.30 PER MONTH

ON $1 000, APRIL 26, 1984 TO JUNE 26, 1984, TWO COMPLETE MONTHS AT $4.30 PER MONTH

ON $1 000, MAY 26, 1984 TO JUNE 26, 1984, ONE COMPLETE MONTH-AT $4.30 PER MONTH

$12.90

$ 8.60

- $ 4.30

$25.80

RATE REVALUATION EXPLAINED

***

THE LATEST PROPERTY REVALUATION HAS RAISED OVERALL RATEABLE VALUES 3.6 TIMES, THE COMMISSIONER OF RATING AND VALUATION, MR RAYMOND FRY, SAID TODAY (THURSDAY).

SPEAKING AT THE LUNCHEON MEETING OF THE ROTARY CLUB OF HONG KONG SOUTH, MR FRY POINTED OUT THAT WHILE THESE VALUES HAD INCREASED, THE EFFECT FOR RATEPAYERS HAD LARGELY BEEN MITIGATED BY THE REDUCED PERCENTAGE RATE CHARGES.

IN THE URBAN AREAS, THESE PERCENTAGES HAVE BEEN LOWERED FROM 13.5 PER CENT TO 5.5 PER CENT, WITH THREE PERCENTAGE POINTS GOING TO GENERAL REVENUE AND 2.5 PER CENT TO THE URBAN COUNCIL.

AN AVERAGE SMALL DOMESTIC UNIT WILL FACE AN INCREASE OF ABOUT $18 A MONTH AND A LARGE UNIT ABOUT $80 A MONTH, WHILE FACTORY OR STORAGE UNITS COME OFF +FAIRLY LIGHTLY+, WITH INCREASES ALSO AVERAGING $18 A MONTH, MR FRY SAID.

IT SHOULD