Higher assessment rates for Penang properties beginning 2015

GEORGE TOWN: Penang has increased the assessment rates for properties under the Penang Island Municipal Council (MPPP) and Seberang Prai Municipal Council (MPSP) beginning 2015.
State Local Government Committee chairman Chow Kon Yeow said the state government approved a slight increase so as not to burden the people.
He added the last increase in assessment rates was in 2005.
"The increase in assessment rates would bring in additional revenue necessary to meet higher operational costs to provide better services to the people and to carry out development projects to improve amenities," he said in a press conference today.
Residential, commercial, industrial and development land properties under both councils will experience an increase of between 1% and 1.25%.
With the new rates the MPSP would be able to generate a revenue of RM158.2million, an increase of RM20.49million compared with RM137.7million in 2014, said its president Datuk Maimunah Shariff.
The highest increase imposed for properties on the island is for golf clubs and racehorse tracks which sees rates go up from 10.30% to 14.75%, an increase of 4.45%.
MPPP secretary Ang Aing Thye meanwhile said the council expects to collect RM180.9million in 2015, up RM20.46million from RM160.438million in 2014.