TNAG-1319-FCO40-1723-Future-of-Hong-Kong-land-leases-1984 — Page 10

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6. THE TOTAL NUMBER AND RATEABLE VALUE OF ASSESSMENTS IN THE

VALUATION LISTS AS AT 1 APRIL 1983 CAN CONVENIENTLY BE BROKEN DOWN

AS FOLLOWS:

ASSESSMENTS

NO.

RATEABLE VALUE

DOLLARS

PERCENTAGE

HONG KONG

254 084

5 158 558

36.0

KOWLOON

173 462

3 234 028

22.5

NEW KOWLOON

141 879

3 303 604

23.0

NEW TERRITORIES

137 909

2 648 487

18.5

OVERALL

707 334

14 344 677

100.0

7. THE VALUATION LIST IS REVISED NORMALLY ABOUT ONCE IN EVERY THREE OR FOUR YEARS. THE MOST RECENT SUCH REVISION WAS COMPLETED IN APRIL 1984 AND RESULTED IN AN INCREASE OF ABOUT 256 PERCENT IN THE TOAL OF RATEABLE VALUES SINCE THE PREVIOUSE REVISION IN PARIL 1977. IN FIXING THE RATEABLE VALUE OF A TENEMENT ITS SIZE, LOCATION, CONDITION AND THE PURPOSE FOR WHICH IT IS USED WILL BE TAKEN INTO ACCOUNT. ACCORDINGLY, RATEABLE VALUES MAY GO UP OR GO DOWN, ALTHOUGH UNDER NORMAL CIRCUMSTANCES THE TENDENCY IS FOR THEM TO GO UP AS THE PROPERTIES IMPROVE.

8. APART FROM THE 4-YEARLYV OR SO REVISONS OF THE VALUATION LISTS INDIVIDUAL PROPERTIES ARE EITHER DELETED FROM THE VALUATION LIST OR RE-VALUED FROM TIME TO TIME AS OLD BUILDINGS ARE DEMOLISHED AND REPLACED BY NEW BUILDINGS ON RE-DEVELOPMENT. บบบบบบบบอ

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8. APART FROM THE 4-YEARLY OR SO REVISIONS OF THE VALUATION LISTS INDIVIDUAL PROPERTIES ARE EITHER DELETED FROM THE VALUATION LIST OR RE-VALUED FROM TIME TO TIME AS OLD BUILDINGS ARE DEMOLISHED AND REPLACED BY NEW BUILDINGS ON RE-DEVELOPMENT.SUCH VALUATIONS ARE KNOWN AS INTERIM VALUATIONS. THE NET INCREASE IN RATEABLE VALUES DURING 1983 AS A RESULT OF THIS CONTINUING EXERCISE WAS 9.6 PERCENT.

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