Wayne SHUM, RVD

Start Date

26-6-2025 9:15 AM

End Date

26-6-2025 10:30 AM

Description

Rates levied on landed properties in Hong Kong had been charged at a simple flat percentage rate of the ratable value for 180 years, and a universal charge rate of 5% had been in force since 1999 regardless of property types or districts. Effective from 1 January 2025, a new rating regime was implemented to introduce a progressive rates scale with three ratable value bands for domestic tenements only, such that higher rates percentage charge(s) would be applied to the portion(s) of the ratable value exceeding specified threshold(s). This marks a new milestone to the Hong Kong rating system. The presentation shares the experience in implementing the new rating regime, including what were the major challenges and how to overcome them to ensure its smooth implementation. Besides, opportunities from the reform have also been explored.

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Jun 26th, 9:15 AM Jun 26th, 10:30 AM

Implementation of progressive rating system in Hong Kong: Challenges and opportunities

Rates levied on landed properties in Hong Kong had been charged at a simple flat percentage rate of the ratable value for 180 years, and a universal charge rate of 5% had been in force since 1999 regardless of property types or districts. Effective from 1 January 2025, a new rating regime was implemented to introduce a progressive rates scale with three ratable value bands for domestic tenements only, such that higher rates percentage charge(s) would be applied to the portion(s) of the ratable value exceeding specified threshold(s). This marks a new milestone to the Hong Kong rating system. The presentation shares the experience in implementing the new rating regime, including what were the major challenges and how to overcome them to ensure its smooth implementation. Besides, opportunities from the reform have also been explored.