Property Tax Imposed on Houses in Punjab
The Punjab government has decided to add to the burden of the public by imposing a property tax on houses in the province. The Punjab Excise and Taxation Department has been instructed to compile a record of all houses by next month, with the tax being levied on houses measuring 5 marlas or above.
Houses worth over Rs 5 million will be taxed, and rates will vary based on the property value. Additionally, the cabinet approved a garbage tax, which will apply to both houses and commercial establishments in rural and urban areas.
In rural areas, the tax rates range from Rs 20 per month for a 5 marla house to Rs 1,000 for large businesses. In urban areas, a 5 marla house will be taxed Rs 300 per month, while houses over 1 kanal will have to pay Rs 5,000 monthly. The tax will be implemented after receiving cabinet approval.
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