Faisalabad: The Excise and Taxation Department, Faisalabad recently launched a survey to determine the suitable rates of property taxes to be imposed on the city over the next five years, a news source reported. As per the publication, the tax rates finalised on the basis of the survey’s results will become applicable from July 2020 onward.
The survey is expected to be conducted in six tehsils, including Jhang, Chiniot, Faisalabad, and Toba Tek Singh. The officials concerned have been tasked with finding out the various amendments that owners have made to their property units, with 260,000 properties identified for this purpose.
Furthermore, the department will mark rental properties that were previously registered as self-occupied residences and increase their tax revenues. The survey will also help the departments concerned to issue forms to the developers of commercial and mixed-use buildings according to the number of storeys they contain.
As per the
sources within the Excise Department, complaints regarding the tax collection
and related matters have been considered in the past, and are expected to be fixed
soon.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
