Financial Independence of LG Rajiv Rishyakaran, ADUN Bukit Gasing Financial Independence of Local Governments
Rajiv Rishyakaran, ADUN Bukit Gasing Financial Independence of Local Governments.
Dec 27, 2015
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Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
Financial Independence of Local Governments
Financial Independence of LGRajiv 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
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
Singapore
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
Melbourne
Financial Independence of LGRajiv 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
Financial Independence of LGRajiv 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
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
Toledo
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
New York
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
New York
Financial Independence of LGRajiv 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
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
Conclusion
1. Federal & State Governments can still subsidize
2. Create multiple streams of income1. Special license Fees2. Attract Investment
Financial Independence of LGRajiv Rishyakaran, ADUN Bukit Gasing
Q & A
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