Sample survey to increase the property taxes has been completed after 12 years. Excise Department has given recommendations regarding 5% increase in property taxes.
Usually, a new property tax survey is conducted every 5 years, but in Punjab this survey has not been conducted for 12 years. In a recent survey, it has been suggested that in the category A commercial zones, property tax should be increased from Rs.12/Sq.Ft. to Rs.225/Sq.Ft. Likewise, the tax per Sq.Ft. in category B,C,D, E and F is suggested to be increased to Rs.95/Sq.Ft., Rs.75/Sq.Ft., Rs.60/Sq.Ft., Rs.50/Sq.Ft. and Rs.40/Sq.Ft. respectively.
For residential areas it has been suggested that the tax in category A, B, C and D localities should be increased to Rs.18/Sq.Ft., Rs.14/Sq.Ft., Rs.11/Sq.Ft. and Rs.9/Sq.Ft. respectively.
