REVISED assessment tax rates have been proposed by the Selayang Municipal Council (MPS) as part of its assessment revision process.
According to a recent update from MPS, assessment tax rates for all types of properties have gone down across the board.
For residential properties, the new proposed tax rate is 5% of the property valuation, compared to the existing 8.6%.
For commercial properties, the rate is expected to be 6%, compared to the current 10.8%.
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“Low-cost and village homeowners are also involved in the assessment revision process.
“However the assessment tax exemption for low-cost properties and the targeted exemption for village residences is still in effect, subject to the (Selangor) government (decision),” MPS said in the notice.
The tax rate for low-cost properties is proposed at 4%, down from 8%, while the village properties rate is 2% (from 4%).
MPS said the expected increase in assessment tax revenue would go towards improving public services such as waste management, drainage cleaning, the building of markets and sports complexes, as well as maintenance of infrastructure.
Friday (May 31) is the last day for Selayang ratepayers to send in their objections.
ALSO READ: MPS receives over 33,000 objections to rate hike
StarMetro previously reported that MPS had received over 33,000 objections to assessment rate revisions proposed earlier.
MPS deputy president Adi Faizal Ahmad Tarmizi said that once the revision process is completed, he expected an increase of not more than 35% in assessment tax.
The council’s property valuation exercise is based on the rental yield of a particular property.
It is part of the assessment revision process that will lead to a hike in assessment tax for properties under the council’s jurisdiction, last adjusted in 1992.
Once the objections are evaluated, the findings will be submitted to the Selangor government for approval before MPS receives any mandate to implement the new assessment rates.
If approved, the new assessment rates will take effect on Jan 1 next year.
