The Housing Authority will pass on the 2015-16 rates concession to its domestic and non-domestic tenants from April. The maximum respective total to be passed on is estimated to be about $1.037 billion and $22.1 million.
The authority said the apportioned amount of rates concession will be transferred to domestic tenants monthly until September, by offsetting an equivalent amount in the rent payable by them.
For tenancies that do not cover the whole month, the transfer of the rates concession will be made on a pro-rata basis.
The transfer arrangement will also apply to Interim Housing licensees paying licence fees.
The authority has allowed the rates concession to be passed on to non-domestic tenants and licensees. They are exempted from paying monthly rates from April to September, subject to a capping limit of $2,500 per quarter for each rateable property.
For the authority's four single-operator markets in Ching Long, Kwai Chung, Lei Muk Shue and Tin Yan Estates, the operators have agreed to pass on the rates concession to their licensees in full.
