XN000022-1995-06-16 — Page 11

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Rating regulation gazetted

The Government today (Friday) published in the Gazette the Rating (Effective Date of Interim Valuation) Regulation and the commencement dates of the other changes proposed in the Rating (Amendment) Ordinance 1995.

The Regulation seeks to formalise the existing practice of fixing the effective date from which rates are payable in respect of newly completed buildings.

It also removes the requirement for staff of the Rating and Valuation Department to check the occupation date of domestic properties.

"Under the existing legislation, for most properties, the effective date of an interim valuation, which is the term used for the assessment of a new building, is either the first day of the month following the expiration of a specified period from the issue of the Occupation Permit (OP), or the date of occupation, whichever is the earlier. The specified period is six months for non-domestic premises and three months for domestic premises," a government spokesman said.

"However, many properties are affected by the Consent Scheme which prevents them from being occupied until the Certificate of Compliance (COC) has been issued by the Director of Lands.

"To avoid unfairness, the Commissioner of Rating and Valuation (CRV) has often had to exercise his discretion to defer the effective date of interim valuation in such cases," he said.

"Under the new Regulation, the effective date ol' interim valuation in respect of new domestic properties will be 90 days from the issue of the OP or COC as appropriate.

"For non-domestic properties, the effective date is 180 days from the issue of the relevant document or the date of first occupation of the property, whichever is the earlier."

The spokesman said ratepayers who actually occupied new domestic properties earlier than 90 days from the date of issue of the relevant document would marginally benefit from the slight deferral of the effective date.

"Relatively few premises would be involved and this change will represent a substantial saving in largely unproductive checking work for the department.