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Rateable Value - Based on What?

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  1. #11

    Join Date
    Mar 2010
    Location
    Hong Kong
    Posts
    600

    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.

    hike likes this.

  2. #12

    Join Date
    Jan 2021
    Posts
    492

    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

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