LAHORE – The Punjab government has enforced a new property tax system, ending exemption for five-marla residential houses across the province.
Under the new system, tax will be calculated on the basis of the property valuation set by the deputy commissioners, commonly known as Property DC rates.
Previously, the property tax was determined on the basis of the measurement of area and there was tax exemption on houses of up to five marlas in the province.
Punjab Property Tax Calculations
With the enforcement of the new system, the tax will be imposed on properties valued at Rs5 million and above.
However, there will be no tax on houses valued below Rs5 million in Punjab.
The decision would help the provincial government generate more revenue in wake of property tax as it would expand the tax net.
The Punjab Excise and Taxation department collects the property tax from citizens across the province.
