Property Tax being imposed

Property Tax being imposed

25 March 2011
The Daily Excelsior


JAMMU: The Government today decided to go ahead with imposition of property tax in the State. For the purpose, a Jammu and Kashmir Property Tax Board is being constituted. A report of the Select Committee on amendment to J&K Municipal Act and J&K Municipal Corporation Act was presented in the Legislative Assembly today by its Chairman and Deputy Chief Minister Tara Chand in the Legislative Assembly. As per the bill approved by the Select Committee, property tax will be levied on all lands and buildings or vacant lands or both situated within the Municipal area. Property tax shall be levied on all lands and buildings or vacant lands or both situation within the limits of two Municipal Corporations of Jammu and Srinagar at the rate of 10 per cent of taxable annual value of property used for commercial purposes and 4 per cent of the taxable annual value of property used for residential purposes. However, the property tax will not be implemented on the persons living Below Poverty Line (BPL), land used for agricultural purposes, hospitals, educational institutions, widows, deserted and divorcee. The disabled persons would also be exempted from purview of the tax. However, no tax shall be charged in case of land not exceeding 10 marlas and building, if any, constructed thereon for residential purposes. In the case of property used for commercial purposes, the property tax shall be levied by a Municipal Committee at the rate of 3 per cent of the taxable annual value of the property. However, no tax shall be levied by the Committee on any property used for residential purposes. A Municipal Council would charge the property tax at the rate of 7 per cent of taxable annual value of property used for commercial purposes and 3 per cent of taxable annual value of property used for residential purposes. However, the Council wouldn't charge the tax in case of land not exceeding 12 marlas and building, if any, constructed thereon for residential purposes. Similarly, the BPL, agricultural land, hospitals, educational institutions, widows, deserted, divorcees and disabled would be exempted from the purview of tax by the Councils within its limits. The bill was introduced in the Assembly on October 8, 2010 but referred to the Select Committee on a motion moved by NC MLA Saifullah Mir. The bill now again be moved for passing in the Assembly by Deputy Chief Minister, Incharge Housing and Urban Development Tara Chand. The Select Committee members comprised Mir Saifullah (NC), Abdul Rehman Veeri (PDP), M Y Tarigami (CPM), Balwant Singh Mankotia (NPP), Jagdish Raj Sapolia (BJP), Engineer Rashid (Independent), Aijaz Ahmed Jan (NC) and Vikar Rasool (Congress). While Mr Veeri said he had not signed the report, Mr Tarigami said he didn't attend the meeting when the Select Committee adopted the report.


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