Johor Property Assessments Review

Posted on: 2014-11-04



JOHOR BARU: The annual assessment for properties in the state is expected to rise following the state government's decision to revise the value of properties across the board.

However, Johor Mentri Besar Datuk Mohamed Khaled Nordin said most homeowners would only face a marginal hike in assessment as the state had decided to reduce the rate for residential properties under the revaluation exercise (assessment is computed by multiplying the projected annual income rental with the prevailing assessment rate).

"The last evaluation was done about 15 to 20 years ago. A house costing RM50,000 then will not be valued the same now. We have to revise the value of the property," said Mohamed Khaled.

He said the decision to reduce the assessment rate for homeowners was made because the state did not want to burden the people with a higher cost of living.

It is learnt that the assessment rate for residential properties, which currently ranges between 0.20% and 0.35%, would be reduced to 0.13% to 0.25%, depending on localities.

Those staying in low-cost housing would only have to pay an additional RM5 a year, or nothing at all, aftr the revision.

The new assessment rates for industries would be between 0.65% and 0.85%, while the rates for commercial properties would be between 0.45% and 0.55%.

Mohamed Khaled said the proposed rates would be displayed for apublic objections by local councils.

He also reminded the people to pay their assessments.

"It is pointless to blame the councils for not building infrastructure if people are not paying up," he said, adding that the Pasir Gudang Muni-cipal Council only managed to collect about half of what was due.

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Source From: http://www.thestar.com.my/News/Nation/2014/11/03/Johor-property-assessments-review-Annual-valuation-to-increase-after-state-govts-decision-to-make-re/

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