Starting next year, home owners in Johor Bahru and Kluang districts will enjoy lower quit rent after authorities revised its rate structure.

According to State Housing and Local Government executive councillor Datuk Abdul Latif Bandi, the new rates will take in 2014 involving three local authorities.

Residents and businesses within the Kluang Municipal Council (MPK) and Johor Bahru City Council (MBJB) will start paying the revised quit rent in January, while those living or doing business in the Johor Baru Central Municipal Council (MPJBT) will pay the new rates from July 2014.

“The remaining 13 local authorities will start imposing the new quit rent rates on residential, commercial, Malay reserved land and agricultural land in 2015,” said Abdul Latif during the launch of Suasana @ Iskandar Malaysia, UMLand Bhd’s mixed high-rise property development project at Jalan Trus in Johor Bahru.

To illustrate, a house owner residing within the areas under MBJB will see their quit rent decline from 0.13 percent to 0.12 percent next January.

On the other hand, owners of industrial and commercial properties in MBJB will witness a small increase in quit rent from 0.28 percent to 0.30 percent and 0.26 percent to 0.28 percent, respectively.

“However, the rates between one local authority and the others are different depending on the number of properties in their jurisdiction,” he explained, noting that the last revision of Johor’s quit rent was made in 1995.

 

Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my

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