In the new Budget, Financial Secretary Chan Mo-po proposed to introduce a progressive system for rates based on the principle of "pay more for those who can", from the current flat rate of 5% of the rental value to a maximum of 12%. Many people own luxury properties The rich need to pay more than one million yuan.
The reporter checked the rates and rental value of the Rating and Valuation Department this year. Among the many rich people, Henderson founder Li Shau Kee paid an extra 2.2 million yuan for the warehouse every year for the mansion in his name, which is temporarily the most among the richest people in Hong Kong; Cheung Woo is a senior Consultant Li Ka-shing paid an additional 1.67 million yuan; Evergrande chairman Xu Jiayin, who was in financial distress, also had to pay an additional 1.15 million yuan.
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The Budget proposes the introduction of a progressive rate system for residential properties: it is recommended that residential properties with a rateable value of $550,000 or below will be charged at 5% of the rental value as at present; rates exceeding $550,000 are recommended. For residential properties with a value of 10,000 yuan, it is recommended that the first 550,000 yuan of rental value be levied at 5%, the subsequent 250,000 yuan of rental value will be levied at 8%, and the rental value exceeding 800,000 yuan will be levied at 12% to better reflect The "capable pays more" principle.
"Fourth Uncle" Lee Shau Kee now owns two mansions in Hong Kong. Among them, the newly completed house at 35 Barker Road has three houses, including two 5,312-foot and one 5,925-foot mansions, with a total floor area of 26,758 feet. This year (2021/22) The rental value is 26.46 million yuan. In addition, he lives in the top-floor duplex unit with swimming pool in Huiyuan, with a rental value of 5.62 million yuan.
On a progressive basis, he will have to pay about $2.2 million more in rates.
Li Ka-shing (left), senior consultant of CKH Holdings.
(File photo / Photo by Luo Junhao)
Li Ka-shing, a senior consultant of the Cheung Wo Department, will also pay an overpayment of 1.67 million yuan for progressive rates due to the mansions on Deep Water Bay Road and Shoushan Village Road under his name.
Cheng Ka-shun, chairman of New World Development, owns two large houses at No. 12 Repulse Bay Road and Nos. 6-10 Bully Path, with a total rental value of about HKD 17 million, and will pay an additional HKD 1.15 million in rates on a progressive basis.
The chairman of Evergrande, Xu Jiayin, owns three large houses in Buli Path under his name. He has mortgaged or borrowed in different forms in the past year. Under the new system, he also needs to pay about 1.15 million yuan more every year.
Evergrande was in financial trouble last year, and "Hong Kong 01" exclusively revealed that Xu Jiayin originally indirectly owned three large houses in Buli Path on the Peak, and mortgaged the loan to prove that he used private property to repay the debt.
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The rental value of No. 13 Dalangwan Road, Shek O, held by Ma Huateng, chairman of Tencent Holdings, is 12.45 million yuan this year. Ma Huateng needs to pay about 830,000 yuan more for the mansion every year.
Jack Ma, the founder of Alibaba, bought the Branksome Crest duplex in Mid-Levels for 350 million yuan in 2007, and the rateable value this year was 4.6536 million yuan. Under the new system, Jack Ma had to pay about 280,000 yuan more.
In addition, Jack Ma's super-luxury mansion at No. 22 Barker Road on the Peak is under construction. It is expected that after the completion of the mansion, it will be required to pay about 1 million yuan in annual rates according to the new system.
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No. 89, Repulse Bay Road, which has been ranked as the "King of Rental Values" six times in the past, has a rental value of 12.654 million yuan this year, with an average monthly rental value of 1.0545 million yuan.
The mansion is owned by Liang Liangsheng, the “Hubei Regal” and chairman of Sibao Group. The Sibao Group operates businesses such as toiletries, and the group is headquartered in Wuhan.
Under the new system, Liang had to pay an extra 840,000 yuan.
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