Editing Land value tax (section)

===Hong Kong===
[[Government rent in Hong Kong]], formerly the crown rent, is levied in addition to [[Rates (tax)#Hong Kong|rates]]. Properties located in the [[New Territories]] (including [[New Kowloon]]) or located in the rest of the territory and whose land grant was recorded after 27 May 1985, pay 3% of the rateable rental value.<ref>{{cite web|url=http://www.landsd.gov.hk/en/gov_rent/rent1.htm |title=Lands Department – Payment of Government Rent |publisher=Landsd.gov.hk |access-date=16 May 2012}}</ref><ref>{{cite web|url=http://www.rvd.gov.hk/en/public/rent.htm |title=Rating and Valuation Department – Public Services |publisher=Rvd.gov.hk |access-date=16 May 2012 |archive-url=https://web.archive.org/web/20120429170138/http://www.rvd.gov.hk/en/public/rent.htm |archive-date=29 April 2012 }}</ref> Hong Kong is unique in a way because the government owns virtually all the land and allows for long term leases which is how they make their income off property.<ref name="auto1">{{Cite web |title=Hong Kong SAR - Individual - Other Taxes |url=https://taxsummaries.pwc.com/hong-kong-sar/individual/other-taxes |publisher=PwC |accessdate=2024-04-18}}</ref> Hong Kong levies a property tax known as "rates," which is a tax on the occupation of property or payable by the owner of unoccupied property. This is calculated as a percentage of the property's estimated rental value, assessed quarterly.<ref name="auto1"/>