The income tax is actually increasing slightly - it's 16% for the year 2004/5 (tax year is April to March).
The only other tax is the Mandatory Provident Fund (MPF) which is a compulsory defined contributions pension scheme for which the employee contribution is 5% of salary, capped at HK$1000 per month.
HK residents get hospital services which are essentially free at the point of delivery (there is a nominal fee - HK$100 I think - to deter time wasters). The medical care is standard, but the free "accommodation" is in shared wards. Most employers in HK provide medical insurance which covers GP visits, some drugs and a certain amount of uprating of the hospital care to include private or semi-private rooms etc.
Police service is "free". (In fact the HK government gets most of its income from property, company and gambling taxes)
If you own property then you will be liable for rates, but when renting it is normally included in the monthly rental.
Water is a payable service like other utilities. It isn't expensive (I pay about HK$50 per month for water). Electricity bills can be higher if you want your home to be air-conditioned and dehumidified 24*7, but the unit price of electricity is similar to the UK or Australia.