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The newly declared 2007-08 Valuation List and Government Rent Roll will be available for inspection from next Monday (March 19).
The List and Rent Roll can be inspected during office hours at the Rating and Valuation Department in Cheung Sha Wan Government Offices, 15/F, 303 Cheung Sha Wan Road, Kowloon, until May 31.
People may also search for entries on the List and the Rent Roll by visiting the department's website (http://www.rvd.gov.hk) during this period.
Notices regarding the display of the List and the Rent Roll were gazetted and advertised in newspapers today (March 16) as required by law.
Proposals objecting to the new rateable values should be made on the specified form (R20A) obtainable from the Rating and Valuation Department and District Offices. Completed forms should reach the department by hand or by post between March 19 and May 31. People may also lodge a proposal by submitting an electronic form (e-R20A) using the "Electronic Submission of Forms" service provided at the department's website.
"Proposals received after May 31 or served by other modes including facsimile transmission will not be accepted," a department spokesman said.
All rateable values are reviewed by reference to rental values in the open market as at the designated valuation reference date of October 1, 2006, to ensure that the rates and Government rent liability are distributed fairly among rates and rent payers in accordance with up-to-date rental values.
Rates are charged at a percentage of the rateable value of the property. For the financial year 2007-08 the rates percentage charge will remain at the present level of 5%. If payable, Government rent is charged at 3% of the rateable value of the property.
In the 2007-08 Budget Speech, the Financial Secretary announced the waiving of rates for the April to June, 2007, and July to September, 2007, quarters subject to a ceiling of $5,000 per quarter for each rateable tenement.
Rates and Government rent demands to be issued in late March or early April will show the revised rateable values for 2007-08, the Government rent payable and the net rates amount payable after deducting the rates concession. Leaflets explaining the general revaluation and the rates concession scheme will accompany these demands. Enquiries can be made on the department's 24-hour hotline 2152 0111.
"The demands must be paid by the last day for payment shown on the demand whether or not an objection is made to the new rateable value," the spokesman said. "If there is any change to the rateable value as a result of any objection, this will date back to April 1, 2007, and any necessary adjustment to the amount payable will be made in subsequent demands."
Ends/Friday, March 16, 2007
Issued at HKT 11:01
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