Property Tax will be calculated on Rental Value instead of Area

Finance Minister of Punjab Makhdoom Hashim Butt announced that the property tax will be calculated on the basis of the rental value of the property rather than the Area. He also mentioned while talking to a news source that the gap between personal use and tenancy in commercial real estate will also be reviewed.

While chairing the meeting of the ministerial committee for resource mobilization 2021,22 he also mentioned that amendments in the Punjab Urban Immovable, property tax act 1958 are imperative to improve local government, municipal taxation, and service delivery.

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