Rawalpindi: The Chaklala Cantonment Board (CCB) on Thursday (September 17) notified its decision to increase the property tax assessment ratio by 15% instead of the regular 30% rise on properties located within its jurisdiction, according to a news source.
According to the administration, the initiative aims to provide relief to the residents who suffered financial losses due to the lockdown imposed in order to contain the spread of the COVID-19 pandemic. The offer stands valid for fiscal year 2020-21.
Earlier this week, the Rawalpindi Cantonment Board (RCB) had publicised its decision to introduce a 50% waiver on property tax assessment ratio for the fiscal year 2020-21. As per the source within the CCB, the law allows 30% and 15% rise for commercial properties and residential properties respectively every three years.
Considering how the COVID-19 outbreak affected the public at large, CCB Station Commander Brig Ijaz Qamar Kiani ordered the board to provide relief to the people. Now the property tax in CCB will be calculated on 20% tax assessment rate for commercial properties and 10% for residential properties.
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