Property re-valuation – not done for 21 years?

by Joseph Tan
(Letter to DAP MP for Segambut, Lim Lip Eng)

I am one of your constituents in TTDI

I like to bring to your attention some facts to dispute the lies perpetrated by the Minister and Mayor regarding above subject.

The only justification offered by the authorities for this unreasonable increase is that the property values have not been revised since 21 years ago. Since I have records to cover the past 21 years, I will share the actual history for everyone’s awareness. This will demonstrate with facts, the blatant lies being told.

Here are my records since I moved into my property:-

Year Valuation Rate Tax % increase in valuation
1990 9000 8% 720 na
1991 15600 6% 936 73
1992 16200 6% 972 4
2009 19800 6% 1188 22
2014pp 48600 ?? ?? 145

The 2014 proposed increase is unreasonable and definitely unacceptable.

If the rate remains at 6%, then the tax would also show a 145% increase!!

You can see from the above table that it was only 4 years ago that the valuation was revised by 22%. So, where did they get this justification that it was 21 years ago!!

I like you to raise this and expose the blatant lies in the pursuit of the objections to City Hall. Thank you.

  1. #1 by sheriff singh on Wednesday, 4 December 2013 - 7:09 pm

    Hmmmmm. You have caught Tengku Adnan with his pants down .

  2. #2 by Di Shi Jiu on Wednesday, 4 December 2013 - 8:32 pm

    Something just struck me when I looked at the above table.

    Revaluing property by such a huge margin must be beneficial for “someone” other than just City Hall.

    Surely it must improve “someone’s” balance sheet by 145%??

    Maybe such a revaluation can be used to manipulate gearing ratios???

    I dunno – I’m just wondering. Others may be better placed to analyse the figures.

  3. #3 by Bigjoe on Wednesday, 4 December 2013 - 8:41 pm

    Maybe this is what KJ means by “Hidup Melayu” not enough?

    Or perhaps its because their mathematic can’t seem to sort out there is no bumi CEO in non-bumi companies since the limited number of talented bumi CEO are glutton for punishment not choosing the many GLC/bumi companies that need them and prefer to work so much harder for non-bumi companies??

  4. #4 by cinaindiamelayubersatu on Wednesday, 4 December 2013 - 9:19 pm

    Di akhirat nanti,ya juga di neraka, depa akan terima balasannya….
    Menipu? Lidah kau akan dipotong
    Mencuri? Kau tahu akibatnya
    Di neraka, apinya panas berkali kali gandanya dari api di dunia…

  5. #5 by ReformMalaysia on Thursday, 5 December 2013 - 1:47 am

    It was obvoiusly take place after “election year” 2009 & 2014

  6. #6 by boh-liao on Thursday, 5 December 2013 - 4:33 am

    KL is d ATM of UmnoB as long as UmnoB controls P’jaya, even as a minority-elected gomen
    KL situation is d most ridiculous – in fact, even if all MPs within KL constituencies were PR, UmnoB still controls KL (minister n mayor n BRKL) n jiak ka liao
    Dis is democracy ala UmnoB

  7. #7 by sasha pranth on Thursday, 5 December 2013 - 6:32 pm

    Hmmmm… thanks for this enlightening piece. The government cannot make careless statements and hope not to be found out at some point. Why can’t they just come clean with why the rates have been hiked? To many KLites, the only real reason we see is that the government is in bad shape financially. Yet even if this was so, to pass the buck on to the people this way is unacceptable especially when it is they who cannot run a tight ship, not us.

  8. #8 by melanie endawi on Thursday, 5 December 2013 - 9:10 pm

    Definitely an eye-opener .. the authority should come out with proper justifications on the hike.

  9. #9 by lee tai king (previously dagen) on Friday, 6 December 2013 - 9:04 am

    How has kl improved in the last 21 yrs.
    21 yrs ago, I saw people chewing and spitting betel leaves. Today, the same thing is still going on. Ok Ok Ok. In the past it was the malaysia indians who did that. But they moved on and out of that chewing and spitting habit. But now, tadaaaaa, burmese are selling the stuff and reviving the habit.

    I hv said this before. I dont really expect kl city centre to look anything like singapore of today. But at least after 55 yrs of independance and development we ought to look and feel more like singapore of say the 1990’s (yes, singapore of 20+ yrs ago). Even that we could not achieve. Instead, I bet my bottom dollor, that we actually look and feel very familiar to those migrant workers from much poorer country.

    And the umno gobermen wants to assess the value of our properties?? If done correctly and properly, I believe the value ought to be lower than before.

  10. #10 by Rufus Mallu on Friday, 6 December 2013 - 2:00 pm

    DBKL, the Mayor & FT Minister has a lot of convincing to do. Time to open up. Truth only, please

  11. #11 by black dog on Saturday, 7 December 2013 - 5:23 pm

    You want to know why the government do it?

    3 purpose of re-valuation:

    A) increase the gearing ratio

    B) increase the value before the SALE

    C) tax increase

    A + B is to continuously increase the bubble – One of the source of income for THOSE people. – To benefit individual

    C is to increase tax for the government – For the people

    I got a feeling that behind the purposed benefit of C somebody will rake in Hugh amount of money of A + B.

    The bubble will eventually burst and some down the street, ordinary citizen, mama and papa will surfer. Also no thanks to the half hearted effort of bank negara!

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