‘KL assessment tax cap will be lifted’

DBKL News

‘KL assessment tax cap will be lifted’
Assessment TaxRevenueHike
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KOTA KINABALU: Sabah Assistant Housing and Local Government Minister, Datuk Mohamad Hamsan Awang Supain, has passed away from acute kidney failure at KPJ Sabah Specialist Hospital on Sunday (January 19) night. He was 65.

AFTER more than a decade, Kuala Lumpur City Hall will be partially lifting the cap on assessment tax introduced during the last valuation exercise.

“The hike is part of a plan to phase out the capping mechanism introduced in 2014, aligning property taxes with actual market values to generate additional revenue for the city.” “Lifting the cap could yield an additional RM80mil in annual revenue, which would help DBKL enhance its services for the city,” added Maimunah.

To ease the transition, Maimunah said the removal of the capping mechanism would be implemented in phases to prevent undue financial strain on property owners.

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Assessment Tax Revenue Hike Kl Property Valuation Maimunah Mohd Sharif

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