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Proposal regarding property tax under govt consideration
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Proposal regarding property tax under govt consideration

Formal order to be issued soon:  Officials 

Post by Irfan Yattoo on Wednesday, January 25, 2023

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Srinagar, Jan 25: The proposal  regarding implementation of property tax in Jammu and Kashmir is under consideration and formal order to clear the air will be issued within next week, officials on Tuesday said.
Director Finance Seema Bhasin, Housing and Urban Development Department, Kashmir told Rising Kashmir that the proposal regarding property tax is under the submission of the Government and it is yet to be approved by the administration.
“The formal order regarding property tax will be issued likely by next week,” she said.
A senior official at Srinagar Municipal Corporation (SMC) said regarding the implementation of property tax in Kashmir, the administration will issue a special notification regarding rules and taxes within some time.
“It is important order and will strengthen the Urban Local Bodies in the region,” he said.
Principal Secretary, Housing and Urban Development Department. Mission Director, Smart City Mission J&K, Dheeraj Gupta did not respond to repeated calls from the reporter.
Two years ago in 2020, in an order, Union Home Secretary Ajay Kumar Bhalla issued several amendments to the Jammu and Kashmir Municipal Act, 2000 and Jammu and Kashmir Municipal Corporation Act, 2000 carried through the Jammu and Kashmir Reorganization (Adaptation of State Laws) Order, 2020.
The MHA has substituted Sections 72 to 80 and now Section 72 states in the previous Acts of 2000: “Unless exempted under this Act or any other law for the time being in force, Property Tax shall be levied on all lands and buildings or vacant lands or both situated within the municipal area
“The property tax shall be levied at such percentage not exceeding 15% of the taxable annual value of land and building or vacant land or both as the Government may, by notification, from time to time specify.”
According to the order, every owner or occupier, who is liable to pay property tax, shall every year submit to the Executive Officer or any officer authorized by him in this behalf a return in the prescribed form within the stipulated period and in the prescribed manner."it said.

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