Penang govt told to reconsider new assessment rates amid possible property price hikes
Oh said the people should not be penalised with increases in assessment rates that will be between 40 to 55 per cent higher than this year. ― Picture by KE Ooi
“We have received numerous complaints from property owners on the sudden increase in total assessment rates they had to pay, some had to pay even more than 60 per cent higher than this year,” he said. The annual value, as stipulated under Section 2 of the Local Government Act 1976, is the estimated gross annual rent while the percentage rate is fixed annually by the council according to its financial needs.
“The Penang state government has always prided itself of recording surpluses each year and very good at managing its finances, so why is it now burdening the people?” he asked. He added that all categories of properties are affected by this, including those in the lower income group as low-cost and low-medium-cost housing will also see an increase in the rates.
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