XN000022-1988-02-12 — Page 6

5

FRIDAY, FEBRUARY 12, 1988

COPIES OF THE BOOKLET WILL BE AVAILABLE FROM DEPARTMENT'S OFFICES, AND AT DISTRICT OFFICES.

MARCH 1 AT THE

IN

COVERING

THE SPOKESMAN SAID THERE WILL BE AROUND 966,000 ASSESSMENTS THE NEW VALUATION LIST, SOME OF WHICH ARE BLOCK ASSESSMENTS, APPROXIMATELY 1,535,000 UNITS.

THIS WILL INCLUDE 2,300 ASSESSMENTS IN THE NEW RATING AREAS THE NEW TERRITORIES.

THE TOTAL RATEABLE VALUE WILL BE AROUND $78,000 MILLION.

THE OVERALL INCREASE IN RATEABLE VALUES 19 ABOUT 16.0 PER BUT FOR DOMESTIC UNITS IT IS ONLY ABOUT 11.1 PER CENT.

IN

CENT

ESTIMATE

ON

OF

THE

THE SPOKESMAN EXPLAINED THAT RATEABLE VALUE IS AN THE ANNUAL RENTAL VALUE OF THE PREMISES AT A DESIGNATED DATE, ASSUMPTION THAT THE PREMISES WERE THEN VACANT AND TO LET.

FOR THE 1988-89 REVALUATION, THE DESIGNATED DATE, KNOWN AS

1986. + VALUATION REFERENCE DATE, IS OCTOBER 1

PERIODIC

REVALUATIONS

ARE

THE

BECAUSE

LEVELS RENTAL, NECESSARY

FOR DIFFERENT CATEGORIES OF

CHANGE OVER TIME, BY VARYING DEGREES PREMISES, AND IN DIFFERENT LOCATIONS.

IN ADDITION, CERTAIN AREAS EXPERIENCE CHANGES AMENITIES, ACCR99IBILITY AND SO ON.

TO ENVIRONMENT,

THE REVALUATIONS BRING RATEABLE VALUES UP TO DATE IN REDISTRIBUTE THE RATES BURDEN ACCORDING TO THESE CHANGES.

ORDER ΤΟ

MAIN SOURCE OF FINANCE A PROPORTION TS ALSO PAID

THE REVENUE RAISED FROM RATES IS THE FOR THE URBAN AND REGIONAL COUNCILS AND INTO GENERAL REVENUE,

RATEABLE

VALUES RESULTING FROM

THE

THE OVERALL INCREASE IN

GOVERNMENT TO MAINTAIN REVALUATION WILL ENABLE THE COUNCILS AND THE

1988-89 AS HAVE APPLIED SINCE THE SAME PERCENTAGE RATE CHARGES IN

TO MAKE APRIL 1, 1986. CONSEQUENTLY, THE GOVERNMENT DOES NOT PROPOSE ANY CHANGE TO THOSE CHARGES FOR 1988-89.

15 PER CENT USUALLY APPLIES A REDUCED PERCENTAGE CHARGE OF

AND OF 7.5 PER WHERE THERE IS NO GOVERNMENT WATER SUPPLY AVAILABLE,

WATER SUPPLY. THE CENT WHERE THERE IS ONLY AN UNFILTERED GOVERNMENT DEMANDS FOR RATES WILL SHOW THESE REDUCTIONS WHERE APPROPRIATE.

CONCERNING PASSING ON OF RATE INCREASES

THE SPOKESMAN SAID

UNDER

ΤΟ DOMESTIC TENANTS,

THAT

IF THE RENT

1 PARTS

OF

OR

JI

OF A DOMESTIC

LANDLORD THE

PROPERTY AND

CONTROLLED (CONSOLIDATION) ORDINANCE, THE LANDLORD MAY INCREASE THE RENT AMOUNT OF INCREASE IN RATES.

IS TENANT BY THE

/INCREASES IN