Rawalpindi: The Rawalpindi Cantonment Board (RCB) has increased its levied commercial and residential property taxes by 15% and 10%, respectively; instead of the regular 30% and 20% deduction-rate notified every 3 years – according to a news source published on September 13.
RCB Spokesperson Qaiser Mehmood said that as per the law, property taxes are increased every three years – 30% for commercial property and 20% for residential property. However, he stated that the reduced rate, by which the taxes are being revised this year, reveals the board’s intention to offer and provide relief to the general public in the aftermath of the anti-COVID-19 lockdown.
Moreover, he said that the board has not yet increased any utility charges and no new taxes have been levied in the said budget. Major chunk of the budget (PKR 4.474 billion) has been reserved for non-development expenditure. However, PKR 400 million has been earmarked for development expenses. For the final approval, this budget will be sent to Military Lands and Cantonment Region Director (Rawalpindi) Fahim Zafar Khan.
Additionally, the spokesperson revealed that the board will initiate new projects to use the land for commercial development, and for streets, roads, and water supply lines in the region.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
