The Punjab government is exploring the introduction of a new property tax targeting residential properties measuring 5 Marla and above, as reported on September 3.

According to sources, the Punjab Excise and Taxation Department has been tasked with compiling a comprehensive list of all residential properties in the province by October 2024. The proposed tax will be applied to houses sized 5 marlas or larger, with the tax rate based on the property's assessed value. Homes valued above PKR 50 lacs will fall under this new taxation bracket.

In a recent move, the government also implemented a garbage tax across the province, affecting both residential and commercial properties. In rural areas, the garbage tax ranges from PKR 20 to PKR 1,000, depending on the property size. Urban areas face a tax from PKR 300 for a 5-marla house to PKR 5,000 for properties larger than 1 kanal.

Stay tuned to Dreams Marketing for further updates on how these changes might impact property owners across Punjab.