TNAG-0523-FCO40-618-Visits-of-members-of-Urban-Council-from-Hong-Kong--to-UK-1975 — Page 26

Rates are bing levied in United Kingdom in similar ways as in

Hong Kong and are a form of local government finance. Rates are local taxes

paid by the occupiers of non-agricultural land and buildings to meet the cost of

local services. In GLC it is calculated annually by the rating authority by multi-

plying the rateable value of his property by the rate (so many pence per pound)

fixed by the authority according to its projected financial needs. Rateable values

are determined by the Inland Revenue in United Kingdoin and in Hong Kong by the

Rating and Valuation Department.

The expenditure of the fire services under the wings of the Urban

Council may be met by an adjustment of the Urbco portion of the rates and the

financial implication is very little.

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