Rateable Value - Based on What?

[tparker]

RV of my place is about 20% off my estimate of market value, so this corroborates.

It's an old building though, so there may be some "serious" disrepair factored in. Also, the rental spread is relatively large as some units aren't renovated and I could foresee some units going for close to the RV.

I wonder where RVD gets their figures... whether they do their own research, or base entirely on R1A / CR109 / Stamp Duty submissions.

... in which case I wonder how many owners under-report for tax reasons.

[HSY]

ok found the formula I saw - pg83... looks tedious...

Rateable Value = Base Value x ( 1 ± CA% ± QA% ± FL% + AV% ) + Parking Value

where

Base Value = Floor area of subject tenement x basic rate $/m2

Parking Value is the value of any car parking spaces assessed together with the unit proper. The parking value, if applicable, is assessed in a separate exercise, prior to the assessment of the base value.

https://www.rvd.gov.hk/doc/en/property_rates.pdf