GEORGE TOWN: Assessment rates for all low-cost, low medium-cost and rural homes in the state are waived again next year.
The rates for all other properties including factories and commercial premises will be reduced by 6%.
The waiver will amount to RM14.09mil, while the 6% reduction will come up to RM21.74mil.
It was announced in the state’s 2017 Budget recently that the waiver and reduction would be absorbed by the Penang Island City Council and the Seberang Prai Municipal Council.
The assessment waiver for low-cost, low medium-cost and rural homes is already granted to Penangites this year.
But the 6% reduction next year will be the first time offered to owners of all other properties including factories and commercial premises.
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