Lahore: In a significant move, the Punjab government has extended its property tax collection system to include housing societies located outside urban centers. This marks the first time such areas will be taxed, according to officials from the Excise Department.
Under the new framework, residents of government-approved housing societies located outside city limits will be required to pay property tax based on the District Collector (DC) rates. The Excise Tax Officer (ETO) will be responsible for assessing and determining the tax liabilities for these properties.
Currently, approximately 2.5 million property owners in Punjab are subject to property tax. With the inclusion of housing societies outside urban areas, provincial tax revenue is expected to see a significant increase. The move is seen as a step towards broadening the tax base and ensuring fair taxation across the province.
Excise Department officials confirmed that following cabinet approval, a summary will be submitted to the government this week for final approval, paving the way for the new system to be implemented. The extension of the property tax to rural and suburban housing societies is expected to contribute to the province’s financial resources and further streamline tax collection efforts.
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