EFFECT OF THE GENERAL REVALUATION ON RATES ON
MAIN PROPERTY CLASSES
|
|
2000-2001
|
| Property Type |
Average Reduction
in Rateable Value(6) |
New Average
Rates Payable |
Savings(7) |
|
% |
$ per
month |
$ per
month |
Small Domestic Premises(1)
(Private) |
3 |
290 |
10 |
Medium Domestic Premises(1)
(Private) |
5 |
646 |
34 |
Large Domestic Premises(1)
(Private) |
5 |
1,543 |
80 |
Public Domestic Premises(2)
|
3 |
159 |
5 |
All Domestic Premises(3)
|
3 |
296 |
10 |
Shops and Commercial Premises
|
8 |
1,447 |
122 |
Offices
|
21 |
1,229 |
320 |
Industrial Premises(4)
|
13 |
744 |
113 |
All Non-domestic Premises(5)
|
10 |
1,412 |
157 |
All Properties
|
7 |
460 |
32 |
| (1) |
Domestic units are classified by relation to saleable
areas as below : |
|
Small domestic |
up to 69.9 m2 |
(up to 752 sq. ft.) |
|
Medium domestic |
70 m2 to 99.9 m2 |
(753 sq. ft. - 1,075 sq. ft.) |
|
Large domestic |
100 m2 and over |
(1,076 sq. ft. and above) |
| (2) |
Including Housing Authority and Housing
Society rental units |
| (3) |
Including car parking spaces |
| (4) |
Including factories and storage premises |
| (5) |
Including miscellaneous premises such as
hotels, cinemas, petrol filling stations, schools, car parking spaces |
| (6) |
The rateable values for 2000-2001 reflect the
changes in open market rental values from 1 October 1998 to 1 October 1999 |
| (7) |
The effect of rates rebates in 1999-2000 has
not been taken into account |
|
