The Punjab government has decided to implement a property tax on houses throughout the province. The Punjab Excise and Taxation Department has been given the responsibility to compile a list of all houses by next month. This new tax will be applied to properties that are 5 marlas or larger, with the tax rate depending on the value of the property. The tax will start for houses valued at over Rs 5 million.
This move comes after the government’s recent decision to impose a garbage tax on both residential and commercial properties. The garbage tax will have different rates depending on whether the property is located in a rural or urban area.
The introduction of these new taxes is part of the government’s efforts to increase revenue and will be enforced after receiving approval from the cabinet.
