Welcome Guest ( Log In | Register )

17 Pages < 1 2 3 4 5 > » Bottom

Outline · [ Standard ] · Linear+

> Cukai Pintu Explained, Cukai Pintu/Assessment Rate issue in KL Financial

views
     
b00n
post Jan 6 2014, 10:36 PM

delusional
Group Icon
VIP
9,137 posts

Joined: Jun 2007
From: Wouldn't be around much, pls PM other mods.
Again, let me remind all to focus on the assessment hike issue!
This is the last warning!


MyKLTalks
Surveying is done by JPPH? i.e. Jabatan Penilaian Dan Perkhidmatan Harta? Or DBKL own survey department?

If by DBKL own survey department, how do we validate versus official JPPH survey or any other certified property valuation company?

Also, would DBKL advise on the actual valued value of one's said property?

Why such question is because your laid down the formula to be: Annual Value or Nilai Tahunan X Assessment Rate Percentage.
So without knowing the "Annual Value" how does us general consumer know whether the it is a fair value?!

This post has been edited by b00n: Jan 6 2014, 10:38 PM
SUStikaram
post Jan 6 2014, 10:42 PM

10k Club
********
All Stars
10,722 posts

Joined: Nov 2011
It was also reported by my mun that same row of house in kepong.

some have lower value and some have higher.

It was also speculate the chinese areas value are put higher compare none chinese areas.

this is race discremination by dbkl if it is true
TSMyKLTalks
post Jan 6 2014, 10:45 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(b00n @ Jan 6 2014, 10:36 PM)
Again, let me remind all to focus on the assessment hike issue!
This is the last warning!


MyKLTalks
Surveying is done by JPPH? i.e. Jabatan Penilaian Dan Perkhidmatan Harta? Or DBKL own survey department?

If by DBKL own survey department, how do we validate versus official JPPH survey or any other certified property valuation company?

Also, would DBKL advise on the actual valued value of one's said property?

Why such question is because your laid down the formula to be:  Annual Value or Nilai Tahunan X Assessment Rate Percentage.
So without knowing the "Annual Value" how does us general consumer know whether the it is a fair value?!
*
The valuation process is a popular question. Here is how it was done:

The valuation started in January 2013 by the JPPH. A group of Valuation Officers did the assessment based on built-up area or lot area. Aside from that, the department conducted the research using these sources:

'rental survey';
Classified ads in newspapers and online;
Property market reports;
Owner’s Return form;
Sales transactions;
Tenancy agreements.

The department also consulted the Ministry of Finance's own JABATAN PENILAIAN DAN PERKHIDMATAN HARTA to get values of certain properties.

On Nov 18 2013, owners would have received a notice alerting them of the proposed new annual value of their property.

The owners then have the chance to challenge or object to the new proposed value according to the revision.

A total 153,000 objection letters were ultimately received by DBKL and these 153,000 objections are now undergoing a public hearing process with DBKL.

You can read all this here:

http://www.mykl.com.my/en/how.html under Annual Value Revision 2014 button


For FAQs, you can go here:

http://www.mykl.com.my/en/faq.html

This post has been edited by MyKLTalks: Jan 6 2014, 10:47 PM
TSMyKLTalks
post Jan 6 2014, 10:49 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(tikaram @ Jan 6 2014, 10:42 PM)
It was also reported by my mun that same row of house in kepong.

some have lower value and some have higher.

It was also speculate the chinese areas value are put higher compare none chinese areas.

this is race discremination by dbkl if it is true
*
No, it is not true. There is no race discrimination when DBKL was conducting the Annual Value Revision. Should you believe any form of unfair discrimination has been committed, please report to DBKL using the information we have provided above.


ManutdGiggs
post Jan 6 2014, 10:50 PM

10k Club
********
All Stars
13,542 posts

Joined: Jun 2011
Wat bout my own use factory vs my next door factory for rental???

One for my biz one for tenant use. But both oso same same naik 246% on valuation. So own use can ask for reduction. Rental 1 depend on how much yield?

How to calculate the valuation vs rental return???
b00n
post Jan 6 2014, 10:55 PM

delusional
Group Icon
VIP
9,137 posts

Joined: Jun 2007
From: Wouldn't be around much, pls PM other mods.
QUOTE(MyKLTalks @ Jan 6 2014, 10:45 PM)
The valuation process is a popular question. Here is how it was done:

The valuation started in January 2013 by the JPPH. A group of Valuation Officers did the assessment based on built-up area or lot area. Aside from that, the department conducted the research using these sources:

» Click to show Spoiler - click again to hide... «

*
I believe this factually not correct because in your website which you suggested me to click, it stated:
"A group of valuation officers from DBKL’s Property Management and Valuation Department have come up with a new Annual Value for each property"

i.e. these are local council's valuation department. Unless you are telling me they report back to JPPH for total country aggregation? Can you pls confirm again?

btw, my property is in Selangor hence not affected. So am just throwing out possible queries which may be useful to all.
TSMyKLTalks
post Jan 6 2014, 10:56 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(ManutdGiggs @ Jan 6 2014, 10:50 PM)
Wat bout my own use factory vs my next door factory for rental???

One for my biz one for tenant use. But both oso same same naik 246% on valuation. So own use can ask for reduction. Rental 1 depend on how much yield?

How to calculate the valuation vs rental return???
*
I believe the special incentive is for residential properties. Factories are not residential units.

The Annual Value rental formula is simple.

Annual Value = Monthly Rental Value X 12.

If the rent is RM1,000 per month, the annual value is RM12,000.

If the rent is RM1 million per month, the annual value is RM12 million.
SUStikaram
post Jan 6 2014, 10:57 PM

10k Club
********
All Stars
10,722 posts

Joined: Nov 2011
QUOTE(MyKLTalks @ Jan 6 2014, 11:49 PM)
No, it is not true. There is no race discrimination when DBKL was conducting the Annual Value Revision. Should you believe any form of unfair discrimination has been committed, please report to DBKL using the information we have provided above.
*
How u back that it is not true?

the valuation is done by your officer.

will u published the areas valuation in domain web to clear no race discrimination? Open n transparent

This post has been edited by tikaram: Jan 6 2014, 10:58 PM
b00n
post Jan 6 2014, 10:57 PM

delusional
Group Icon
VIP
9,137 posts

Joined: Jun 2007
From: Wouldn't be around much, pls PM other mods.
QUOTE(Sikit2JadiBukit @ Jan 6 2014, 10:53 PM)
for the sake of transparency can you post DBKL's P&L here to justify the hike?
*
Don't think they have access. They are just a social media agency or probably consultancy company engaged by DBKL to do an online campaign to address and inform on how Assessment Fee works.

So you are asking for the moon nor did you read my earlier post.
TSMyKLTalks
post Jan 6 2014, 11:01 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(b00n @ Jan 6 2014, 10:55 PM)
I believe this factually not correct because in your website which you suggested me to click, it stated:
"A group of valuation officers from DBKL’s Property Management and Valuation Department have come up with a new Annual Value for each property"

i.e. these are local council's valuation department. Unless you are telling me they report back to JPPH for total country aggregation? Can you pls confirm again?

btw, my property is in Selangor hence not affected. So am just throwing out possible queries which may be useful to all.
*
The DBKL has its own Jabatan Penilaian dan Pengurusan Harta (JPPH) and the MoF has its own Jabatan Penilaian dan Perkhidmatan Harta (also JPPH).

The valuation was conducted by officers from DBKL's JPPH for the majority of the properties using the methods outlined in the previous post. They also consulted the MoF's JPPH on the values of some properties.

No worries if your property is in Selangor. We appreciate these questions so we can clear any confusion.


ManutdGiggs
post Jan 6 2014, 11:01 PM

10k Club
********
All Stars
13,542 posts

Joined: Jun 2011
QUOTE(MyKLTalks @ Jan 6 2014, 10:56 PM)
I believe the special incentive is for residential properties. Factories are not residential units.

The Annual Value rental formula is simple.

Annual Value = Monthly Rental Value X 12.

If the rent is RM1,000 per month, the annual value is RM12,000.

If the rent is RM1 million per month, the annual value is RM12 million.
*
Boss u hav not answered le. I accepted ur explanation on rental part. Wat bout own use w/o rental??? How to justified???

% on biz revenue or on biz gross profit or on biz nett profit???

Or just pandai pandai throw guli pluck numbers???

Just curious and guess u r the rite man to provide the answer.


TSMyKLTalks
post Jan 6 2014, 11:03 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(Sikit2JadiBukit @ Jan 6 2014, 10:53 PM)
for the sake of transparency can you post DBKL's P&L here to justify the hike?
*
Not all the material is up yet, but for a projected expenditure vs revenue for DBKL WITHOUT this Annual Value Revision exercise, you can click on the button "Rising Cost" here :

http://www.mykl.com.my/en/why.html

b00n
post Jan 6 2014, 11:06 PM

delusional
Group Icon
VIP
9,137 posts

Joined: Jun 2007
From: Wouldn't be around much, pls PM other mods.
QUOTE(MyKLTalks @ Jan 6 2014, 11:01 PM)
The DBKL has its own Jabatan Penilaian dan Pengurusan Harta (JPPH) and the MoF has its own Jabatan Penilaian dan Perkhidmatan Harta (also JPPH).

The valuation was conducted by officers from DBKL's JPPH for the majority of the properties using the methods outlined in the previous post. They also consulted the MoF's JPPH on the values of some properties.

No worries if your property is in Selangor. We appreciate these questions so we can clear any confusion.
*
So now, the issued would be again back to my initial question. How do we ascertained DBKL's valuation matches MOF's valuation?

So based on the Annual Valuation notice given by DBKL, should one go and purchase Annual Property Market Report from MOF's JPPH (which contains detailed scheme valuation report) to assess whether the value are comparable?!

My personal belief is not enough transparency because how many guys out there know of such reports or have access to such information to dispute what might or might not be questionable?! That is why everyone is irked when the mayor says out of xxxx populations, only yyyy objected. Because the other zzzz might not understand all this thing. Even more so for those without access to the internet.

My personal opinion is City Hall should be transparent enough to quote sources in their notices so everyone is well informed.

This post has been edited by b00n: Jan 6 2014, 11:07 PM
TSMyKLTalks
post Jan 6 2014, 11:09 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(ManutdGiggs @ Jan 6 2014, 11:01 PM)
Boss u hav not answered le. I accepted ur explanation on rental part. Wat bout own use w/o rental??? How to justified???

% on biz revenue or on biz gross profit or on biz nett profit???

Or just pandai pandai throw guli pluck numbers???

Just curious and guess u r the rite man to provide the answer.
*
For Annual Value, there are:

1. Land with buildings on it - Annual Value is an estimate of the gross yearly annual rental rate from the buildings.

For example, if a property is estimated to have a monthly rental rate of RM1,000 a month, the Annual Value is RM12,000.

ANNUAL VALUE = MONTHLY RENTAL RATE X 12 MONTHS

2. Vacant land - The Annual Value is 10% of the Market Value of the land.

For example, if the market value of your vacant lot is RM500,000, its Annual Value is RM50,000.

ANNUAL VALUE = TOTAL MARKET VALUE X 10%


For properties that have buildings on it but is not rented, the Annual Value is calculated from similar properties in the area.

For example, if a condominium has four blocks and three are fully rented out and one has zero tenants. Units in that block will have an annual value similar to other units in the same area.

Location is a prime factor in indicating value, so references are made to surrounding properties.

If any owner believes that their annual value is incorrect, they could have submitted an objection to DBKL upon receiving the notice. A total 153,000 have done so and are now undergoing the process of public hearing.
b00n
post Jan 6 2014, 11:12 PM

delusional
Group Icon
VIP
9,137 posts

Joined: Jun 2007
From: Wouldn't be around much, pls PM other mods.
QUOTE(MyKLTalks @ Jan 6 2014, 11:03 PM)
Not all the material is up yet, but for a projected expenditure vs revenue for DBKL WITHOUT this Annual Value Revision exercise, you can click on the button "Rising Cost" here :

http://www.mykl.com.my/en/why.html
*
I believe us with the likes of Sikit2JadiBukit is not interested in "general" numbers. Eg. Operating expenses as stated, what does it includes? Development Expenditure - what does it includes? See.. for Other income sources*, they did put down details albeit vague: "Other income sources include selling DBKL’s own assets, collecting development fees from development projects within KL, tapping into DBKL’s own cash reserves as well as Government grants.".

But again, I doubted you would have the liberty of disclosing the nitty gritty to us, the general public.
b00n
post Jan 6 2014, 11:13 PM

delusional
Group Icon
VIP
9,137 posts

Joined: Jun 2007
From: Wouldn't be around much, pls PM other mods.
Dear all, pls be reminded to be "civil".
Hopefully we get more insights into this matter.

Am off to bed.

TSMyKLTalks
post Jan 6 2014, 11:14 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(b00n @ Jan 6 2014, 11:06 PM)
So now, the issued would be again back to my initial question. How do we ascertained DBKL's valuation matches MOF's valuation?

So based on the Annual Valuation notice given by DBKL, should one go and purchase Annual Property Market Report from MOF's JPPH (which contains detailed scheme valuation report) to assess whether the value are comparable?!

My personal belief is not enough transparency because how many guys out there know of such reports or have access to such information to dispute what might or might not be questionable?! That is why everyone is irked when the mayor says out of xxxx populations, only yyyy objected. Because the other zzzz might not understand all this thing. Even more so for those without access to the internet.

My personal opinion is City Hall should be transparent enough to quote sources in their notices so everyone is well informed.
*
Any reference from the MoF's JPPH can be used as a basis for objection to DBKL during the public hearing which is conducted starting today (Monday).

Any third party evaluation (other than Government agencies) can also be used, but it is also up to the process and the hearing committee to accept or reject such valuations.


TSMyKLTalks
post Jan 6 2014, 11:17 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(b00n @ Jan 6 2014, 11:12 PM)
I believe us with the likes of Sikit2JadiBukit is not interested in "general" numbers. Eg. Operating expenses as stated, what does it includes? Development Expenditure - what does it includes? See.. for Other income sources*, they did put down details albeit vague: "Other income sources include selling DBKL’s own assets, collecting development fees from development projects within KL, tapping into DBKL’s own cash reserves as well as Government grants.".

But again, I doubted you would have the liberty of disclosing the nitty gritty to us, the general public.
*
Actually, all the details on income and expenditure for the current year and before are all available in the Mayor's Budget speeches here:

http://www.dbkl.gov.my/index.php?option=co...id=1231&lang=en

The projection is based on previous years' income and expenditure for DBKL, extrapolating each factor and plotting its trajectory as a whole.
ManutdGiggs
post Jan 6 2014, 11:18 PM

10k Club
********
All Stars
13,542 posts

Joined: Jun 2011
QUOTE(MyKLTalks @ Jan 6 2014, 11:09 PM)
For Annual Value

ANNUAL VALUE = TOTAL MARKET VALUE X 10%
*
This format is a challenge to the professionalism of the way bank's valuation method. It's contradicting.

Anw tq for ur unconvincing method.

This post has been edited by ManutdGiggs: Jan 6 2014, 11:21 PM
TSMyKLTalks
post Jan 6 2014, 11:19 PM

Getting Started
**
Junior Member
69 posts

Joined: Jan 2014
QUOTE(tikaram @ Jan 6 2014, 10:57 PM)
How u back that it is not true?

the valuation is done by your officer.

will u published the areas valuation in domain web to clear no race discrimination? Open n transparent
*
If you do believe that some injustice has been done in terms of race discrimination, please inform DBKL or us using the information provided earlier.




17 Pages < 1 2 3 4 5 > » Top
 

Change to:
| Lo-Fi Version
0.0184sec    0.40    7 queries    GZIP Disabled
Time is now: 29th March 2024 - 12:20 AM