Comparative law notes
"Rates" are taxes levied in the UK on owners of business property. These taxes are calculated based on the value of the land or building in question. A similar tax is also levied in Hong Kong, but for all property. In this case, the rates are calculated based on the rent at which the land or buildings might reasonably be expected to be let. Hence in Hong Kong the term 差餉租值 (rateable value) is used.
