Home > News > Nation
Thursday December 19, 2013 MYT 5:59:00 PM
Friday December 20, 2013 MYT 7:58:50 AM
by bavani m AND shalini ravindran
Federal Territories Minister Tengku Adnan.
KUALA LUMPUR: Kuala Lumpur residents heaved a huge sigh of relief as Kuala Lumpur City Hall (DBKL) agreed to reduce its property assessment rates by two percentage points.
Residential properties will be now charged a 4% rate while commercial properties will be charged 10%, down from 6% and 12% respectively, announced Federal Territories Minister Tengku Adnan.
He added that the revised rates would take effect in the second half of 2014.
The announcement came after weeks of complaints from city folk over the steep hike in assessment rates.
Tengku Adnan said last month that he would look into complaints received and hinted at a reduction in assessment rates.
"A panel will be set-up to review the objection letters received and public hearing will be conducted for residents who still want to appeal for further reduction'', he said during a press conference at City Hall on Thursday.
Tengku Adnan said a total of 153,187 objection letters were received from residents who did not agree with the increase.
Tags / Keywords:
Property, Assessment rate, Tengku Adnan, DBKL
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)