New assessment rates from Jan 1

Penangites will have to pay more in assessment next year.

State Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the Penang Municipal Council (MPPP) and Seberang Prai Municipal Council (MPSP) would impose an increase of between 0.5% and 4.45% based on the type of properties.

“We have not increased the rates for the last 10 years since 2005.

Many local councils in the country have revised their Valuation Lists and imposed higher assessment rates this year.

“We have been receiving requests for an increase since 2009. We approved a marginal increase only after a lengthy discussion with the two councils because we do not want to burden the ratepayers,” he said during a press conference in Komtar yesterday.

Why charge GST on maintenance fees

More than 15 management corporation (MC) heads, representing more than 30,000 residents living in apartments and condominiums in the Klang Valley, came together today against the implementation of the 6% goods and services tax (GST) on their monthly management and maintenance fees next year.

Saying that it penalises them over landed property owners, the group also said there was a lack of thought that went into the plan to charge GST on Management Committees (MCs) that collected more than RM500,000 annually as the ruling did not specify the density of the strata projects.

Seputeh MP Teresa Kok, who attended the press conference at the Kuchai Brem Park condo community hall in Kuala Lumpur today, called on the relevant agencies to clarify the grey areas.

She said many low-medium-cost apartment MCs would be collecting more than RM500,000 in yearly maintenance because of the higher number of units.

110% loan for PR1MA house buyers

Loan offers as high as 110% will be extended to 1Malaysia Housing Project (PR1MA) house buyers by selected financial institutions, said Datuk Seri Najib Tun Razak.

The Prime Minister said the move was a continuance of the Government's effort to help the people.

"This is to enable all house buyers to own houses while the extra 10% is to pay additional costs such as legal fees and insurance.

"The rent-to-own scheme is also offered as an assistance to the middle-income group," he said in his latest entry in his blog on Saturday.

Najib said the Government aimed to build 500,000 units of PR1MA houses within five years under the PR1MA programme which covers all states except Labuan.