Wednesday, April 27, 2016

#PRNSarawak : Sarawak residential property assessment rates slashed

Sarawak has reduced its residential property assessment rates for 2016 and is waiving payments for amounts below RM50.

Effective Jan 1 this year, those paying RM50.01 to RM100 yearly will enjoy a 90% discount, with higher rates receiving less reduction.

However, those paying above RM700 annually are not privy to a reduction in rates and have to pay the amount in full.

Those paying RM100.01 to RM150 will get an 80% reduction, RM150.01-RM200 (70%), RM200.01-RM250 (60%), RM250.01-RM300 (50%), RM300.01-RM350 (40%), RM350.01-RM400 (30%), RM400.01-RM500 (20%) and RM500.01-RM700 (10%).

The announcement was made by Sibu Municipal Council chairman Datuk Tiong Thai King (pic) at its monthly meeting. Tiong said 26 others councils state-wide had received the circular on the matter from the Local Government and Community Development Ministry.

In March, Chief Minister Tan Sri Adenan Satem said that the Government had agreed to make adjustments to the rate to ease the people's burden in view of the rising cost of living.

Tiong said property owners who had already paid the assessment rate would get the refund of the excess amounts.

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