KUALA LUMPUR, June 24 — The assessment rate hike for properties in Kuala Lumpur will be limited to 10 per cent for residential and 25 per cent for commercial premises.

Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor said the decision followed a revaluation of properties by Kuala Lumpur City Hall (DBKL) last year.

Speaking to reporters after a Property Revaluation session for Kuala Lumpur, he said the decision to limit the assessment rate hike was made after it was approved in the Cabinet meeting two weeks ago.

 “We may consider to extend this rate for next year but an increase or decline depends on the situation and the capability of the people to pay.”

Tengku Adnan said 57,978 units of low and medium cost houses in Kuala Lumpur are enjoying between two and four per cent decline of assessment rate.

 “Some 166,890 units or 34 per cent of properties, mostly residential units have lower assessment. No increase was made on 16,461 units or three per cent of residential units comprising low and medium cost houses.”

He said the Cabinet also agreed to allow 10 per cent reduction of assessment rate to persons with disabilities, retirees and those occupying their own homes.

 “Some 17,444 people from the three groups have applied up to March 31. Those yet to apply for this rebate are advised to contact DBKL immediately.”

On October 1 last year, Kuala Lumpur Mayor Datuk Seri Ahmad Phesal Talib announced that DBKL was implementing a review of assessment rates for properties after 21 years. — Bernama