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PROPERTY TAX

PROPERTY TAX. Zoning of the Cantt Area Developed Area Extended Area Devising separate formula/yardstick for assessment purposes Formula/yardstick applicable to Residential units All other units are assessed on the basis of actual rent. Procedure. Working out Annual Value. Developed Area.

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PROPERTY TAX

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  1. PROPERTY TAX • Zoning of the Cantt Area • Developed Area • Extended Area • Devising separate formula/yardstick for assessment purposes • Formula/yardstick applicable to Residential units • All other units are assessed on the basis of actual rent

  2. Procedure Working out Annual Value Developed Area Basis • Location • Total area of the premises • Total covered area of the building • Age of the building (special rebate) Categories • A - D

  3. Procedure Working out Annual Value Developed Area Formula ARV=[{(Total Area in Sq Yds+ Covered Area in Sq Ft ) x Factor}/2] * 100/15 TAX = 15% of ARV

  4. Procedure Working out Annual Value Developed Area Total Area: 500 yards Covered Area: 4200 sqft FORMULA ARV=[{(Total Area in Sq Yds+ Covered Area in Sq Ft ) x Factor}/2] * 100/15 TAX = 15% of ARV

  5. Procedure Working out Annual Value Developed Area Total Area: 500 yards Covered Area: 4200 sqft FORMULA ARV=[{(Total Area in Sq Yds+ Covered Area in Sq Ft ) x Factor}/2] * 100/15 TAX = 15% of ARV

  6. Example Example B-5, D.H.A 2 Kanals With Factor 4.5 A.R.V = 111646.00 Tax Rs. 16747.00

  7. Example Example Z-170, D.H.A 1 Kanal With Factor 4.5 A.R.V = 79665.0 Tax Rs. 11950.00

  8. Example Example Z-940, D.H.A 10 Marlas With Factor 4.5 A.R.V = 38693.00 Tax Rs. 5804.00

  9. Procedure Working out Annual Value Extended Area Basis • Location • Street Width • Total area • No of Storeys Categories • X-A • X-B • X-C Yard Stick * All rates are for per marla in Rupees. ARV = Rate x Marlas TAX = 15% of ARV

  10. Procedure Working out Annual Value Extended Area Tax as per WCB Yardstick Total Area: 5 marla

  11. Procedure Working out Annual Value Extended Area Tax as per WCB Yardstick Total Area: 5 marla Tax as per Cantt Act Tax as per Deptt Guidelines 2001

  12. For Rented Properties: (implemented from the year 2010-2011) Developed area Category A: DHA Phase (I & II) and old Cavalry Ground : Tax from self x 6 DHA Phase V, Askari Schemes, DHA (sector K,Y,Z) : Tax from self x 7.5 DHA (Phase III & 4), Cavalry Ground Extension : Tax from self x 6.5 Developed area Category B: Tax from self x 6.5 Developed area Category C and D: Tax from self x 7 Extended area Category A,B and C: Factor for Single Storey: 6, Factor for Double Storey: 7

  13. For Commercial Properties: To evolve a similar mode of assessment a mathematical formula for commercial properties is under preparation. Presently commercial buildings are either being accessed on actual rent wherever rental deeds are available or accessed rental value. The assessment of Rental value is generally called to questions and there is a view that a similar mathematical mechanism may be evolved for commercial buildings.

  14. Remissions / Exemptions • Property Tax remitted under Section 76 of the Cantonments Act, 1924 when building or land has remained vacant and unproductive of rent for sixty or more consecutive days. • The Board under Section 100 of the Cantonments Act, 1924 may exempt, for a period not exceeding one year at a time from the payment of any tax or any portion of a tax imposed under Act ibid any person who is in its opinion by reason of poverty unable to pay the same. • The property tax is exempted on residential properties of 5 Marla and below as decided by the Federal Government.

  15. Remissions / Exemptions • 10% of the annual tax, on account of repairs and other expenditures incurred to maintain the building in a condition in which it may fetch the gross annual rent. • 5% of the annual tax, in a case in which the tax in respect of a financial year is paid in Lump sump before the 30th of September in that year. • 60%of the annual tax payable in respect of one house in any Cantonment in Pakistan owned by a person or the spouse of such person whether self occupied or rented out either wholly or in part, who is Federal Government or a Provincial Government or a Cantonment Board servant.

  16. Remissions / Exemptions • 100%of the annual tax payable in respect of one house in any Cantonment in Pakistan owned by a Federal Government or a Provincial Government or a Cantonment Board retired person or the spouse of such retired personwhether self occupied or rented out either wholly or in part. • 100%exemption of the annual tax payable in respect of one house in any Cantonment in Pakistan owned by a widow of any Federal Government or a Provincial Government or a Cantonment Board servant whether self occupied or rented out either wholly or in part.

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