KL folk heave sighs of relief as DBKL reduces assessment rate

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.