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Rating And Valuation Department
{{no footnotes, date=November 2011 A property tax known as "rates" has been levied in Hong Kong since 1845. The tax applies to all domestic and commercial properties unless exempted, and is based upon the rental value of the property, re-assessed each year. Formerly part of the revenue went to the Urban Council and, from 1986, the Regional Council, but since 2000 the whole amount goes to the Hong Kong Government. The valuation process is the responsibility of the Commissioner of Rating and Valuation, to whom appeals or objections may be submitted. The findings of various legal cases have clarified some aspects of rating law. History of rates in Hong Kong Introduction Unless specifically exempted under the Rating Ordinance (Chapter 116 of the Laws of Hong Kong), all properties in Hong Kong are liable to rating assessment, with rates payable at a specified percentage of the rateable value assessed on the property. Basically, the rateable value is the estimated market rental v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheritance or gift and taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or geographical region or a municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted to a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the value of land, excluding the value of buildings and other improvements. Under a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lease
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it can r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tenancy
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property. Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given length of time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and thereafter held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) on a periodic basis such as weekly or monthly. Terminology and types of leasehold vary from country to country. Sometimes, but not always, a residential tenancy under a lease agreement is colloquially known as renting. The l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landed Property
In real estate, a landed property or landed estate is a property that generates income for the owner (typically a member of the gentry) without the owner having to do the actual work of the estate. In medieval Western Europe, there were two competing systems of landed property; manoralism, inherited from the Roman villa system, where a large estate is owned by the Lord of the Manor and leased to tenants; and the family farm or '' Hof'' owned by and heritable within a commoner family (c.f. yeoman), inherited from Germanic law. A gentleman farmer is the largely historic term for a country gentleman who has a farm as part of his estate and farms mainly for pleasure rather than for profit. His acreage may vary from under ten to hundreds of acres. The gentleman farmer employed labourers and farm managers. However, according to the 1839 ''Encyclopedia of Agriculture'', he "did not associate with these minor working brethren". The chief source of income for the gentleman farmer was d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ordinance (Hong Kong)
A local ordinance is a law issued by a local government. such as a municipality, county, parish, prefecture, or the like. China In Hong Kong, all laws enacted by the territory's Legislative Council remain to be known as ''Ordinances'' () after the transfer of the territory's sovereignty to China in 1997. Germany The German Constitution grants the federated states certain exclusive rights including police and public order powers. The 16 state governments delegate many of their responsibilities and powers to local authorities. Local authorities have powers to pass local ordinances () e.g. to determine the use of land, planning questions, public order, emergency and transport issues etc. The ordinance must follow a public disclosure and consultation procedure and then approved by the local assembly as well as the elected representative of the executive (e.g. the mayor). The state authorities or stakeholders including citizens who can show that they have a sufficiently strong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Castle Peak Road
Castle Peak Road is the longest road in Hong Kong. Completed in 1920, it runs in the approximate shape of an arc of a semi-circle. It runs West from Tai Po Road in Sham Shui Po, New Kowloon, to Tuen Mun, then north to Yuen Long then east to Sheung Shui, in the very north of the New Territories. It is divided into 22 sections. It serves south, west and north New Territories, being one of the most distant roads in early Hong Kong. Name The road was named after Castle Peak, a peak in the western New Territories. The area to the east of the peak was hence named Castle Peak. Later at the dawn of the development of new town, the area was renamed to its old name, Tuen Mun. The road was originally known in Chinese as ''Tsing Shan To'' () for its entire length. The Chinese name of the section of the road in the New Territories was later changed to ''Tsing Shan Kung Lo'' () Lit. "Castle Peak public road" or "Castle Peak Highway". In everyday conversation, however, the term ''Tsing Sha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kwai Chung
Kwai Chung is an urban area within Tsuen Wan New Town in the New Territories of Hong Kong. Together with Tsing Yi Island, it is part of the Kwai Tsing District District of Hong Kong. It is also part of Tsuen Wan New Town. In 2000, it had a population of 287,000. Its area is 9.93 km². Areas within Kwai Chung include: Kwai Fong, Kwai Hing, Lai King, Tai Wo Hau. Kwai Chung is the site of part of the container port of Hong Kong. Origin of the name In earlier times Kwai Chung was called Kwai Chung Tsai (). Kwai Chung was a creek (Chung) that emptied into Gin Drinkers Bay (). The whole bay was reclaimed for land and the creek is no longer visible. Divisions Traditionally, Kwai Chung is divided into Sheung Kwai Chung (), and Ha Kwai Chung (). Administratively, the former is called North Kwai Chung, and the latter South Kwai Chung. Sheung Kwai Chung, Chung Kwai Chung Village () and Ha Kwai Chung Village () are recognized villages under the New Territories Small House Policy. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tsuen Wan
Tsuen Wan (formerly also spelled Tsun Wan) is a town built on a bay in the western New Territories of Hong Kong, opposite of Tsing Yi Island across Rambler Channel. The market town of Tsuen Wan emerged from the surrounding villages and fleets of fishing boats in the area. The now-crowded city is around the present-day Tsuen Wan station of the MTR. Its coastline was further extended through land reclamation. History According to the report of Hong Kong archaeological society, there were people settled in Tsuen Wan as early as two thousand years ago. In earlier days, it was known as Tsin Wan (淺灣) which means shallow bay, and later renamed to Tsuen Wan. Another name ''Tsak Wan'' (賊灣, Hakka dialect pronunciation: tshet wan), pirate bay, indicates the presence of pirates nearby long ago. In fact, the area around Rambler Channel was known as Sam Pak Tsin (三百錢), literally meaning three hundred coins. There was a legend that pirates would collect three hundre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drainage
Drainage is the natural or artificial removal of a surface's water and sub-surface water from an area with excess of water. The internal drainage of most agricultural soils is good enough to prevent severe waterlogging (anaerobic conditions that harm root growth), but many soils need artificial drainage to improve production or to manage water supplies. History Early history The Indus Valley civilization had sewerage and drainage systems. All houses in the major cities of Harappa and Mohenjo-daro had access to water and drainage facilities. Waste water was directed to covered gravity sewers, which lined the major streets. 18th and 19th century The invention of hollow-pipe drainage is credited to Sir Hugh Dalrymple, who died in 1753. Current practices Geotextiles New storm water drainage systems incorporate geotextile filters that retain and prevent fine grains of soil from passing into and clogging the drain. Geotextiles are synthetic textile fabrics specially ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Street Lighting
A street light, light pole, lamp pole, lamppost, street lamp, light standard, or lamp standard is a raised source of light on the edge of a road or path. Similar lights may be found on a railway platform. When urban electric power distribution became ubiquitous in developed countries in the 20th century, lights for urban streets followed, or sometimes led. Many lamps have light-sensitive photocells that activate the lamp automatically when needed, at times when there is little-to-no ambient light, such as at dusk, dawn, or at the onset of dark weather conditions. This function in older lighting systems could be performed with the aid of a solar dial. Many street light systems are being connected underground instead of wiring from one utility pole, utility post to another. Street lights are an important source of public security lighting intended to reduce crime. History Preindustrial era Early lamps were used by Greek and Roman civilizations, where light primarily served t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tai Po
Tai Po is an area in the New Territories of Hong Kong. It refers to the vicinity of the traditional market towns in the area presently known as Tai Po Old Market or Tai Po Kau Hui () (the original "Tai Po Market") on the north of Lam Tsuen River and the Tai Po Hui (the current Tai Po Market; historically Tai Wo Shi, literally ''Tai Wo market'') on Fu Shin Street on the south of the Lam Tsuen River, near the old Tai Po Market railway station of the Kowloon-Canton Railway (British Section). Both market towns became part of the Tai Po New Town in the late 1970s and early 1980s. In present-day usage, "Tai Po" may refer to the area around the original market towns, the Tai Po New Town (), or the entire Tai Po District. Etymology In Chinese, the place, Tai Po (), was formerly written as . Treating the Chinese characters separately, the pronounce of Po in the third tone () in Cantonese are shared with many words, not only Po in the sixth tone (). For example, the "Po" () of Sha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
