CONFUSING TO THE END! Ku Nan stuns with CUT not HIKE, lowers property rates by 1 to 4 pts

KUALA LUMPUR - City property owners here will be paying slightly lower assessment rates from January 1 after the Kuala Lumpur City Hall (DBKL) decided on a reduction of between 1 and 4 percentage points following widespread disgruntlement.

Federal Territories Minister Datuk Seri Tengku Adnan Mansor, who announced the new deal, added that disabled and pensioned property owners will be given rebates, in addition to those who reside on their properties.

“I agree for DBKL to implement a revaluation of properties in Kuala Lumpur, but I have asked for the revaluation to not cause a very high increase towards the total assessment rate which must be paid by property owners until it burdens them,” Tengku Adnan told reporters here.

For properties which fall within the 36 square miles radius from Kuala Lumpur, they will be subjected to 10 per cent of tax instead of 12 per cent for commercial properties; and 7 per cent instead of 10 per cent for service apartments.

For properties beyond the 36-square mile radius, the tax will be 8 per cent instead of 10 for commercial properties; and 5 per cent instead of 8 per cent for service apartments.

The annual tax for residences will be charged 4 per cent instead of 6 per cent, regardless of their location. - Malay Mail