Green Building Incentives Strategies for Property Tax Assessment

GREEN BUILDING INCENTIVES STRATEGIES FOR PROPERTY TAX ASSESSMENT

Project Leader:

Dr. Ibrahim Sipan

Research Team:

Associate Professor. Dr. Hishamuddin Mohd Ali

Dr. Maimunah Sapri

Shazmin Shareena Ab. Azis

ABSTRACT

The aim of this research is to encourage the growth of retrofitted green building in Malaysia (through the merger and deployment of green components with existing building) by developing strategies for property tax incentives to be awarded to green building in Malaysia. The method used for this research included reviews of literatures on green components and property tax incentives model on green building. The data collections for this research consist of questionnaire surveys, interviews and focus group discussion among local authorities in Malaysia.

The major finding of this research indicates that local authorities in Malaysia are ready to implement property tax incentives for retrofitted green buildings. This research also establishes that Malaysian communities are willing to retrofit their existing buildings into green structures. Besides, they are also aware of the benefits of sustainable, green practices, especially regarding benefits to the environment. Furthermore, this research has successfully identified green components that are categorized as taxable green components that would convey higher value to a property as a basis of the development of property tax incentives models in Malaysia.