Anger as top 10 landlords in Hong Kong enjoy rates rebate of HK$256 million
The top ratepayer alone is expected to receive a rates concession of HK$102.6 million from 15,645 rateable properties owned
The top 10 landlords in Hong Kong – who own about 40,000 property units among them – will benefit from rates waivers of more than HK$256 million (US$32.8 million) this financial year, reigniting criticism that the government was once again favouring the rich.
In his February budget, Chan raised the waiver from a maximum of HK$1,000 per quarter in the last financial year to HK$2,500 per quarter for a full year.
Property tax won’t be levied on 1.43 million private flats in 2018-19
The latest figures, revealed by the Financial Services and the Treasury Bureau on Monday, suggested that the top ratepayer alone was expected to receive a rates concession of HK$102.6 million from the 15,645 rateable properties owned.