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1.68 I have decided to give a new property tax
rebate for commercial and industrial properties
for the period of 1 July to 31 December 2003.
The rebate will be $2,000 plus 15% of the balance
property tax payable.
1.69 This rebate will cut costs for businesses,
both large and small, who own their premises.
It will give them greater certainty amidst the
current business environment. The total property
tax savings for the year will be $456 million,
inclusive of the rebates given for the first half
of the year.
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