The Ministry of Local Government and Community Development has revealed in a circular the nine tiers of annual assessment rates for residential rateable holdings, which would receive between 10 per cent and 90 per cent reductions.
Minister of Local Government and Community Development Dato Sri Wong Soon Koh confirmed the reductions apply for those paying between RM700 and RM50.01 annually, while those who currently paying RM50 and below would have their assessment rates waived.
Sibu Municipal Council chairman Datuk Tiong Thai King said this is another initiative of Chief Minister Datuk Patinggi Tan Sri Adenan Satem to lighten the burden of the people.
“This is especially timely as we are facing economic uncertainty and rising cost of living,” he said when chairing SMC’s monthly council meeting yesterday.
“The annual assessment rates at RM50 or below will get a 100 per cent reduction, while assessment rates amounting to RM700.01 or above will get zero reduction.”
He said for yearly assessment rates ranging between RM50.01 and RM100 the reduction will be 90 per cent, RM100.01 to RM150 (80 per cent), RM150.01 to RM200 (70 per cent), RM200.01 to RM250 (60 per cent), RM250.01 to RM300 (50 per cent), RM300.01 to RM350 (40 per cent), RM350.01 to RM400 (30 per cent), RM400.01 to RM500 (20 per cent) and RM500.01 to RM700 (10 per cent).
This would mean those payingRM50.01 in assessment rates annually would now only need to pay RM5, while those paying RM100 annually would only need to pay RM10.
For the ninth tier, those paying RM500.01 would receive a RM50 reduction, while those paying RM700 would receive an RM70 reduction.
Tiong said refunds for those who have already settled the full year rates of RM50 and below this year would be made by end of June.
He said the state government has also decided to waive any arrears of assessment rates for residential rateable holdings under the same category.