The Housing Authority will transfer the property tax exemption to tenants starting next month.

The Housing Authority will, starting next month, reassign the rates concession for the first and second quarters of the 2026/27 Financial Budget that was proposed in the “Budget”. The beneficiaries will be its residential and non-residential tenants, with the total amounts expected to be up to about HK$807 million and HK$9.1 million, respectively.

A spokesperson said the Housing Authority’s Subsidized Housing Committee and the Commercial Properties Subcommittee have each approved that the amount of the rates concession for the first and second quarters of the 2026/27 financial year will, on the basis of the principle of “no gain and no loss,” be reassigned to tenants of public rental housing residential and non-residential buildings under their purview. The Housing Department, during a period of six months from April 1 to September 30, will reassign the Government’s rates concession amount to tenants of public rental housing residential and non-residential buildings on a monthly basis, with a cap of HK$500 per quarter.

The spokesperson said that, given that the amount of rates concession for individual parking space users is not much, and that apportioning the rates concession amount would involve substantial administrative costs, the Commercial Properties Subcommittee has approved, according to the past practice of reassigning the rates concession amount, not to include car parks in this rates concession reassignment arrangement.