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Plan to cut rebates for Hong Kong property owners may be dropped entirely, says Chief Executive Carrie Lam
- City’s leader makes announcement after further investigation of present set-up
- Lam cites example of developer who owns 15,000 properties but passes rebates on to tenants
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The plan to cut rebates for Hong Kong’s property owners may be dropped, the city’s leader said on Thursday.
Chief Executive Carrie Lam Cheng Yuet-ngor made the announcement after lawmakers who had called for the change suggested the present system was not as unfair as first thought.
At the moment, property owners receive a rebate for each property they hold. Under the proposal, concessions would be granted on only one property per owner, meaning developers and people with multiple properties would get fewer concessions on their rates.
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“A week ago, we looked at information about the biggest property owners. The biggest owner held more than 15,000 properties,” Lam told lawmakers at a question and answer session.
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“I was curious as to who that is. I can’t tell you here, but now we know that the owner had already passed the rates rebates to the tenants.
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