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The following is issued on behalf of the Hong Kong Housing Authority:
The Housing Authority (HA) will pass on the rate concessions of around $270 million to its domestic tenants early next year.
The Chief Executive announced in his Policy Address on 10 October, 2007, that rates for the last quarter of 2007/08 would be waived, subject to a ceiling of $5,000 for each rateable tenement. The Subsidised Housing Committee of the HA endorsed today (November 1) the decision that the rates concession would be passed on to all domestic tenants, including Interim Housing (IH) licensees.
The rates concession will be passed on to tenants/licensees over a three-month period from January to March 2008 by offsetting an equivalent amount of rent/licence fee each month. For tenancies that do not cover the entire quarter, the rates concession will be made on a pro-rata basis.
The HA spokesperson said, "Public Rental Housing (PRH) tenants are only required to pay rents to the HA. They do not have to pay rates separately. Although not legally obliged to do so, we have all along passed on the benefits received to tenants in all previous rates concession exercises."
"About 650,000 domestic lettings, including IH units, will benefit from this rates concession. Premises for which mesne profit is collected will be excluded as the tenancies concerned are deemed to have been terminated already," he continued.
For tenants who are receiving Comprehensive Social Security Assistance, the Social Welfare Department will make corresponding adjustments to their rent allowance payable.
This is the second rates concession granted by the Government within the current financial year. The rates for the first two quarters were waived as announced by the Financial Secretary in his Budget Speech in February.
The last rates concessions were passed on to tenants in July and October 2007 respectively. Enhancement of the computer system has made it possible for the Housing Department to conduct this rates concession exercise in a more timely manner.
The rates of PRH are assessed by the Commissioner of Rating and Valuation by block or floor, and the amount of rates will be apportioned to individual flats.
PRH tenants/IH licensees will be informed of the arrangements by letter. Notices will also be posted at each domestic block to indicate the amount of rates concession to be offset for different flat types.
Ends/Thursday, November 1, 2007
Issued at HKT 16:10
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