New Labuan assessment rates show drastic hike
Published on: Wednesday, November 06, 2019
By: Sohan Das
LABUAN: Property owners here may have to cough up much more for their assessment rates next year.
A new valuation list for 2020 for all buildings in Labuan not exempted from the rates shows a drastic hike in the assessment rates.
ADVERTISEMENT
The list is currently on display at the Labuan Corporation’s valuation, investment and property management department at Wisma Perbadanan, here.
LC Chairman Datuk Seri Amir Hussien (pic) said anyone aggrieved by the new valuation rates could file an appeal by stating their grounds.
“The list has been on display from Nov 1 and the owners and occupiers of buildings or their agents can obtain extracts without a charge,” he said, adding the new rates will be reviewed on Jan 1 next year.
A house owner in a housing estate here said the assessment he paid for this year was RM285.60 based on the annual rental rate of the property.
ADVERTISEMENT
“Based on the new valuation his annual rental from the property is estimated at RM18,360 and the payable assessment next year is RM780.30, an increase of 280 per cent,” he said.
“The assessment rate for housing estate is 4.24 per cent. For commercial and industrial properties, the rates are 6.25 per cent and 7.25 per cent, respectively,” he added.
ADVERTISEMENT
The assessment rates on the island have not been reviewed for the last 15 years.
It was reviewed when Datuk Suhaili Abdul Rahman was Labuan Member of Parliament from 1998 to 2004.
The review under him (Suhaili) triggered an outcry and as Chairman of LC he offered free painting of all blocks of shophouses in different colours to create a colourful image of the island.
Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
