XN000022-1995-03-31 — Page 17

-

- 15

Period lodging Proposal for Alteration of Valuation List in April and May 1995

The Rating and Valuation Department has published a notice in today's Gazette reminding the public that if they wish to make a proposal to alter the rateable value of their property for the financial year commencing April 1, 1995, they may do so during the months of April and May this year.

Forms for this purpose (Form R20A) may be obtained from the department at Hennessy Centre, 17th Floor, 500 Hennessy Road, Causeway Bay, Hong Kong, and also from district offices.

Proposals must be lodged with the department within the two months and they will not be accepted as valid if served before 1 April or after 31 May. They can be lodged by post or by hand, but transmission by facsimile is not acceptable.

A spokesman for the department pointed out that rateable values and rates percentage charges for the financial year 1995-96 will be the same as for 1994-95.

Nevertheless, some ratepayers will be required to pay more in rates, since the increase in rates in 1994-95 will have been limited by the Rates Relief Scheme.

This scheme limited any increase in rates payable in 1994-95 to 20% of the rates payable for the same property in the preceding year. However, increases in 1995- 96 will again be confined to 20% of the amount payable in 1994-95.

The spokesman also said that where an alteration was made to the rateable value as a result of a proposal lodged in 1994, the revised figure will continue to apply for 1995-96 so no further proposal needs to be made.

He also emphasised that notwithstanding the lodging of a proposal, rates, as shown on the rates demand, must still be paid by the due date.

The department will carefully consider all proposals and notify the ratepayers of its decisions on them before September 1. Any changes in rates payable resulting from any of these decisions will take effect from April 1, 1995, and any overpayment will be refunded.

End/Friday, March 31, 1995