VALUATION LIST FOR 1960 (Statement by the Minister for National Development)

2.41 p.m.

The Minister for National Development (Mr Ong Eng Guan): Mr Speaker, I wish to make a ministerial statement on the valuation list for 1960.

The Government has decided not to proceed with the proposed revision of annual values as published in the City Council Valuation List for 1960. It has been decided that for assessment purposes in 1960 the Valuation Lists of both the City Council and the Rural Board should be based on the 1959 annual values.

Assessment is considered a tax on property-owners to benefit the poorer people in order to provide more amenities like roads, standpipes, bus shelters and other such amenities. However, it has now been decided by Government that for 1960 we shall use the 1959 assessment list and the rectification of anomalies in the assessment of properties will be deferred.

The recent revision of properties in the City area was expected to bring about an additional revenue of $6 million. It has been estimated that 99 per cent of this additional revenue comes from these property-owners and commercial enterprises. The money thus collected will be used to provide amenities for the benefit of all other inhabitants of the island. However, it is not practicable to bring in this additional revenue of $6 million for 1960 because of certain misunderstandings which have arisen as a result of the rectification of anomalies in the assessments. Although the Government knows that most of these properties are very much under-assessed, it is not possible at this juncture to proceed with the original scheme due to some unscrupulous landlords of rent-controlled houses who, although not affected by the recent revision, thought it fit to exploit the situation and try to raise the rents of their tenants.

Mr Speaker, the Government believes that until such time as sufficient information has been effectively disseminated amongst the tenants, action should be deferred. For equitable reasons and administrative convenience, it has also at the same time decided that in the City area as well as the Rural Board area, the Valuation List for 1960 should be based on the 1959 annual values.