Assessment rates for condominiums and high-rise units in Petaling Jaya will be reduced next year. Mayor Datuk Mohamad Roslan Sakiman announced that in the draft Petaling Jaya City Council (MBPJ) 2009 budget, assessment rates for flats, apartments and condominiums would be reduced from eight per cent to six per cent.

This, however, excludes properties in Sri Damansara, Mayang Mas and Megah Mas, the assessment rates of which remains at five per cent. For serviced apartments, the rates would be reduced from 8.8 per cent to 6.6 per cent. Assessment rates for low-cost flats will remain at five per cent, while assessment for other properties will not be increased.

The income deficit would be offset by an estimated RM6.48 million from rental of billboard sites.