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The terms “tenement”, “rateable value” and “interim valuation”, which were re-enacted or introduced in the Rating Ordinance 1888, have remained central to rating law in Hong Kong since then.
Government rent in Hong Kong started on July 1, 1997, with the inception of the Joint Declaration. It said that new land grants contain a standard condition that the lessee is required to pay an annual rent, equal to 3% of the rateable value from time to time of the land leased.
As to claims for possession of land, the District Court can deal with buildings or premises the annual rent or rateable value or the annual value of which does not exceed HK$320,000. [ 5 ] If a claimant invokes the District Court's equity jurisdiction , the above limits are equally applicable, except that in proceedings wholly relating to land ...
Properties located in the New Territories (including New Kowloon) or located in the rest of the territory and whose land grant was recorded after 27 May 1985, pay 3% of the rateable rental value. [91] [92] Hong Kong is unique in a way because the government owns virtually all the land and allows for long term leases which is how they make their ...
The Policy of Revitalizing industrial buildings resulted in an increase in rental fees, increasing the rateable value 2% in 2012 and 7% in 2013. [18] A survey conducted in 2010 by the Hong Kong Arts Development Council (HKADC) showed that over 60% of industrial buildings users had problems as a result of rental increases. [19]
The Judiciary of the Hong Kong Special Administrative Region is the judicial branch of the Hong Kong ... of which the annual rent or rateable value does not exceed ...
Below are the top 10 most expensive houses in Hong Kong. Prices (valuation) are based on best estimates in 2023. Factors determining prices include location, view, built quality, past transactions, media reports and annual figures published by Rating and Valuation Department of the Government. Rankings are based on per square foot.
Legislative Council of Hong Kong: Legislative history; Introduced by: ... IRO Section.5B Ascertainment of assessable value IRO Section.7C Rental Bad debts ...