The Hong Kong Special Administrative Region (SAR) government has decided to grant ratepayers a one-off concession with a total value of 2 billion HK dollars (US$256 million), a HK official said Thursday.

According to the spokesman for the Rating and Valuation Department (RVD), it is estimated that 90 percent of ratepayers will not need to pay rates for the period concerned, while the remaining 10 percent will enjoy concessions, which will save ratepayers some 2 billion HK dollars.

The concession is equivalent to either the actual rates payable for the third quarter in 2003, or 1,250 HK dollars (US$160) for domestic properties and 5,000 HK dollars (US$641) for non-domestic properties, whichever is the lesser amount, he said.

"This is one of the measures included in the relief package announced by the government Wednesday to help the community tide over the difficulties due to the outbreak of Severe Acute Respiratory Syndrome," he said.

Moreover, in order to advance the effect of this measure, the government will waive the 5 percent surcharge on overdue payments for three months from April to June in 2003, the spokesman added.

(Xinhua News Agency April 25, 2003)