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98.    Rateable values are derived from the expected amount of rent that a property can achieve in the open market.  They are thus subject to fluctuation in line with market conditions.  As a result, rateable values on properties had fallen for several successive years since 1999?000, with an average accumulated decrease of about 39 per cent.  In the latest revaluation exercise, the rateable values increased for the first time in six years by about 7 per cent on average.  The rates charge will remain unchanged at 5 per cent in 2005?6.  We expect that about 65 per cent of ratepayers will see an average increase in their rates bill of around $ 40 a month.



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2004 | Important notices
Last revision date : 16 March, 2005