Rajiv Rishyakaran, ADUN Bukit Gasing Financial Independence of Local Governments

Rajiv Rishyakaran, ADUN Bukit Gasing International Overview Property Taxes paid around the world Selangor: 1-2% of Annual Value (adjusted) Annual Value = estimated annual rent Singapore: 0-20% of Annual Value Lower rate for owner occupied as well Melbourne: 4% of Annual Value Has been on a decline, 6.5% in Yr2000

Rajiv Rishyakaran, ADUN Bukit Gasing Singapore

Rajiv Rishyakaran, ADUN Bukit Gasing Melbourne

Rajiv Rishyakaran, ADUN Bukit Gasing International Overview Property Taxes paid around the world Property Band, based on house price Bromley, UK (London Borough) £135,000 1 bedroom flat, property tax £1890 Nottingham, UK £75,000 2 bedroom terrace house, property tax £1675

Rajiv Rishyakaran, ADUN Bukit Gasing International Overview Property Taxes paid around the world USA – multiple sources of income Springfield, IL – 8.5% Sales Tax Toledo, USA: Income tax, not property tax the bulk of revenue New York City: Many sources of income, including 27% state and federal aid

Rajiv Rishyakaran, ADUN Bukit Gasing Toledo

Rajiv Rishyakaran, ADUN Bukit Gasing New York

Rajiv Rishyakaran, ADUN Bukit Gasing New York

Rajiv Rishyakaran, ADUN Bukit Gasing International Overview Local Gov Income Per Capita Petaling Jaya: RM470 Subang Jaya: RM330 Selayang: RM269 Melbourne: $3400 (night) or $469 New York: $8625 Toledo: $869

Rajiv Rishyakaran, ADUN Bukit Gasing Conclusion 1.Federal & State Governments can still subsidize 2.Create multiple streams of income 1.Special license Fees 2.Attract Investment

Rajiv Rishyakaran, ADUN Bukit Gasing Q & A