Jammu and Kashmir Lieutenant Governor Manoj Sinha on Monday said that 40 per cent of the J&K population will have to pay no property tax and the remaining 60 per cent have to pay nominal amount between Rs 600 to Rs 1000 maximum amount per annum.
Talking to media in Srinagar, LG Sinha said, “40% of population in J&K won’t have to pay any property tax. 80% of 2,03,680 households will have to pay nominal amount of Rs 600 per annum while rest will have to pay a nominal amount of Rs 1000.
“This amount is one-tenth of the tax amount being paid elsewhere in the country”, he said.
The J&K government announced imposition of property tax in the UT from April 1.
The property tax in Jammu and Kashmir is the least as compared to other states. There are around 5,20,000 houses in cities of J&K. Out of these, 2,06,000 houses are less than 1000 sq ft which means 40% won’t have to pay any property tax. 2,03,680 houses are less than 1500 sq ft and 80% of these households will have to pay less than Rs 600 per annum while the rest will have to pay a nominal amount of Rs 1000 (maximum). This amount is one-tenth of the tax amount being paid in Shimla, Ambala and Dehradun, the Lt Governor said.
In commercial establishments, out of 1,01,000 shops in Srinagar, Jammu & other municipalities, and around 46% of shops ( 46,000 shops) are less than 100 sqft and they will have to pay upto Rs 700 per annum. Out of these 46,000 shops, 80% will have to pay Rs 500-550 per annum/ Rs 50 per month. 30,000 shops will have to pay taxes below Rs 2000 per annum which is also one-tenth of the amount being paid in Shimla, Ambala and Dehradun. 76% of shops will be paying a nominal amount in the shape of Property Tax. No better arrangements can be made than this.
The revenue generated won’t go to the J&K UT Government and will be deposited in the accounts of the corporations and municipalities. It will be utilized for improving public amenities, the Lt Governor noted.
If a common man has any problem, he must reach out to the administration. It is our collective responsibility to build a J&K which is economically prosperous, with ample opportunities for livelihood generation so that people can live & work with dignity and peace, the Lt Governor added.
