1,500 appeals for rates have been awarded
The Rating and Valuation Department (hereinafter referred to as the Rating and Valuation Department) completed the review of the objection received in the 2018/19 financial year for the new rateable value. A total of 40,700 copies were received and 1,500 successful appeals were obtained. 3.69%, slightly lower than the 3.96% level in the 2017/18 financial year (previous year), with an average decrease of 12%. The number of cases with direct appeals was the largest, with 660 copies, with an average reduction of 13%.
Residential average reduction of 10%
In the current year, the maximum number of objections to the rental applications was 18,600. After the completion of the review by the Department of Evaluation, 660 of them were appealed, accounting for 3.55% of the applications. There were 3,800 applications in the residential area, of which 420 (about 11.1%) had successful appeals, with an average reduction of 10%.
For other properties, there were 3,000 applications for industrial buildings and 100 (about 3.33%) for the reduction in rates, with an average reduction of 9%. Of the 4,200 applications in the office building, 75 (about 1.79%) were straight, but the average reduction was only 4%. There were only 65 appeals in the parking space, accounting for 1.44% of the 4,500 applications, with an average reduction of 10%.
The Department of Differential Assessment refers to the large spread of rent
Ye Baiqiang, Assistant Director of Ratings (Division and Property Valuation), said that the number of appeals in recent years was the largest in terms of shops. Due to the large fluctuations in shop rents in recent years, after the estimated rent value of the shop, the actual rents of shops were different. Generally, the application for appeal is accepted for adjustment.
He pointed out that the main reason is still to consider the rental value of the property in October last year. However, after the landlord provided more new lease information, it proved that the rent of the property was lowered and the rates were properly reduced. The tourist area in the past few years was There has been a major adjustment in the rent of shops. The Department has already obtained more accurate figures. Therefore, the appeals in this year have not been concentrated in the tourist areas.
In addition, Ye Baiqiang added that although more than 10% of residential applications have been successfully appealed, it is generally a property with less rent information and very few units belonging to large housing estates.
The Rating and Valuation Department said that if the rateable value of the property is reviewed and approved, the effective date of the amendment will be April 1 this year. The rates payable and the Government rent will be amended in accordance with the relevant amendments. Adjustment.