The Punjab government is set to introduce a new property tax on residential homes, adding to the financial pressures faced by residents. According to a private news channel, the Punjab Excise and Taxation Department has been directed to compile a detailed list of all residential properties in the province by next month.
This new tax will apply to homes that are 5 marlas or larger, with rates based on the assessed value of the property. Properties valued over Rs. 5 million will fall under this tax bracket. The move is part of the government’s efforts to increase revenue through property-related taxes.
It is also worth noting that the Punjab cabinet’s standing committee has already approved a garbage tax for both residential and commercial properties across the province.
In rural areas, the garbage tax rates are Rs. 20 per month for a 5-marla house, Rs. 40 for a 10-marla house, and Rs. 300 to Rs. 1,000 for businesses of varying sizes. In urban areas, the rates range from Rs. 300 for a 5-marla house to Rs. 5,000 for houses larger than 1 kanal.
This new property tax, along with the recently approved garbage tax, reflects the government’s strategy to generate additional revenue from property owners in both rural and urban settings.
When you don’t have backup plan ,you don’t have strategies to make money .. such things u can expect to generate the money 💰.. poor act my government of Punjab
PMLN government is bent upon to forceits supporters and voters to refrain from supporting it in next elections and let PMLN face se fate as PTI and PPP in Punjab
Lanat beshumar begerat khud mulk ko loot rhe hn aur awam ke sans leny pe bhi tax h
Jab kamene arooj pate hn
Apni oqaat Bhool jate hn
the government is already giving garbage to the public but they will now charge public for that garbage.
Property business is already in dying state due to increased taxes for the last 3 years and this new tax will further decline this sector. Imposing tax after tax on properties doesn’t help to increase revenue rather it contribute to slow down the tax collection because people don’t do sale purchase due to huge taxes imposed on properties transactions.