XN000022-1984-04-07 — Page 6

SATURDAY, APRIL 7, 1984

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93 000 OBJECTIONS TO RATEABLE VALUES RECEIVED

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THE RATING AND VALUATION DEPARTMENT HAS RECEIVED ABOUT 93 000 OBJECTIONS TO THE NEW RATEABLE VALUES IN THE VALUATION LISTS FOR 1984-5.

THIS COMES TO ABOUT 12.6 PER CENT OF PREMISES ASSESSED COMPARED WITH 10.2 PER CENT IN 1977 WHEN THE PREVIOUS REVALUATION WAS MADE.

THE GENERAL INCREASE IN RATEABLE VALUES IN 1977 WAS MUCH LESS, SO THAT AN INCREASE IN THE NUMBER OF OBJECTIONS THIS TIME IS NOT UNEXPECTED, A SPOKESMAN FOR THE DEPARTMENT SAID.

HE EXPLAINED THAT THE EXACT NUMBER OF VALID PROPOSALS WILL NOT BE KNOWN FOR SEVERAL WEEKS AS REGISTRATION IS STILL NOT COMPLETED EVEN THOUGH THE PERIOD FOR SERVING THEM HAS EXPIRED.

OVER THE NEXT SIX MONTHS, THE DEPARTMENT WILL BE INVESTIGATING ALL THE PROPOSALS MADE AND WILL NOTIFY RATEPAYERS OF THE DECISION TAKEN.

RATEPAYERS NOT SATISFIED WITH THE DECISION CAN APPEAL TO THE LANDS TRIBUNAL.

THE SPOKESMAN RE-AFFIRMED THAT THE REVALUATION HAS NOT AFFECTED THE STATUS OF ANY PROPERTY IN RELATION TO THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE.

THE RATEABLE VALUE EXCLUSION POINT ($50 000) FOR PART || OF THE ORDINANCE IS THAT IN THE VALUATION LIST ON JUNE 10, 1983, AND THE RECENT CHANGES DO NOT AFFECT ANY PROPERTY'S STATUS FOR THIS PURPOSE.

THE SPOKESMAN SAID, THE NEW RATEABLE VALUES ARE BASED ON AN ESTIMATE OF THE ANNUAL RENTAL VALUE OF THE PREMISES AS AT JULY 1, 1983 ON THE ASSUMPTION THAT THEY WERE VACANT AND TO LET.

+THUS IF A DOMESTIC PROPERTY IS LET AT A CONTROLLED RENT THE RATEABLE VALUE WILL USUALLY BE HIGHER THAN THE RENT PASSING BECAUSE THIS WOULD NOT USUALLY REPRESENT THE RENT WHICH COULD BE OBTAINED FOR THE PREMISES IF VACANT AND TO LET.+

HE SAID HE FELT THAT A NUMBER OF PROPOSALS MAY HAVE BEEN MADE AS A RESULT OF A MISUNDERSTANDING ON THIS POINT.

+RATEABLE VALUES WILL NOT BE REDUCED MERELY BECAUSE THEY EXCEED THE CONTROLLED RENT PASSING, HE ADDED.

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