Procedure of Assessment of Property Tax

Annual Value of the buildings and lands is determined on the basis of reasonable rent of properties prevailing in a locality (Mohallah, Colony, Town, Road or Street etc.), having similar characteristics and the use of property. This reasonable prevailing rent of properties (Residential or Commercial) in a particular locality has been transformed into Per Sq.Yd. rent for land area and per Sq.Ft. rent for covered area in the formulation of Valuation Tables. For general residential & commercial properties, the figures recorded in the respective column of the valuation table shall be multiplied with the total land area (Sq. Yard) and covered area (Sq. Feet) of the building, the figure arrived at shall be multiplied by 12 to determine the reasonable Annual Rent Value of a property. The procedure will involve the following steps: a. Total land area of a property (Actual) X per Sq.Yard Rent prescribed in the valuation table against the locality in which the property is located. Total Covered Area of a property (Actual) X per Sq.Yard Rent prescribed in the Valuation table against the locality in which the property is located. (a) + (b) above X 12 = GARV GARV 10% = ARV

b.

c. d.

Note: - Road having width 30ft and above will be considered as Main Road.

RESIDENTIAL VALUE TABLE Category Property Location Class Main/Off Roads A Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads 1 500 Rs. 0.40 0.30 0.30 0.25 0.25 0.20 0.20 0.15 0.15 0.10 0.12 0.08 0.09 0.07
st

Self Rates
Land Area @ S.Yds Covered Area @ Sq.Ft.
st

Rented Rates
Land Area @ S.Yds
st

Covered Area @ Sq.Ft.

Exd. 500 1 3000 Rs. 0.30 0.25 0.25 0.20 0.20 0.15 0.15 0.10 0.10 0.05 0.06 0.04 0.05 0.04 Rs. 0.40 0.30 0.30 0.25 0.25 0.20 0.20 0.15 0.15 0.10 0.12 0.08 0.09 0.07

Exd. 3000 1 500 Rs. 0.30 0.25 0.25 0.20 0.20 0.15 0.15 0.10 0.10 0.05 0.06 0.04 0.05 0.04 Rs. 4.00 3.00 3.00 2.50 2.50 2.00 2.00 1.50 1.50 1.00 1.20 0.80 0.90 0.70

Exd. 500 1st 3000 Rs. 3.00 2.50 2.50 2.00 2.00 1.50 1.50 1.00 1.00 0.50 0.60 0.40 0.45 0.35 Rs. 4.00 3.00 3.00 2.50 2.50 2.00 2.00 1.50 1.50 1.00 1.20 0.80 0.90 0.70

Exd. 3000 Rs. 3.00 2.50 2.50 2.00 2.00 1.50 1.50 1.00 1.00 0.50 0.60 0.40 0.45 0.35

COMMERCIAL VALUATION TABLE

Category Land Area @ S.Yds Property situated 1st 500 Exd 500 main/Off Roads Rs. Rs. Main Roads Off Roads Self Covered Area @ Sq. Ft. 1st 1500 Rs. 1501 to 3000 Rs. Land Area @ S.Yds Exd. 500 Rs. Rented Covered Area @ Sq. Ft. 1st 1500 Rs. 1501 to 3000 Rs. Exd. 3000 Rs.

Class

Exd. 3000 1st 500 Rs. Rs.

2.40 2.00 1.60 1.40 1.40 1.00 1.00 0.80 0.80 0.50 0.64 0.40 0.50 0.32

1.40 1.20 1.20 1.00 1.00 0.60 0.60 0.50 0.50 0.30 0.40 0.25 0.32 0.20

2.40 2.00 1.60 1.40 1.40 1.00 1.00 0.80 0.80 0.50 0.64 0.40 0.50 0.32

2.00 1.60 1.40 1.20 1.20 0.80 0.80 0.60 0.60 0.40 0.40 0.25 0.32 0.20

1.40 1.20 1.20 1.00 1.00 0.60 0.60 0.50 0.50 0.30 0.30 0.20 0.25 0.16

12.00 8.00 8.00 7.00 7.00 5.00 5.00 4.00 4.00 2.50 3.20 2.00 2.50 1.60

7.00 6.00 6.00 5.00 5.00 3.00 3.00 2.50 2.50 1.50 2.00 1.25 1.60 1.00

12.00 10.00 8.00 7.00 7.00 5.00 5.00 4.00 4.00 2.50 3.20 2.00 2.50 1.60

10.00 8.00 7.00 6.00 6.00 4.00 4.00 3.00 3.00 2.00 2.00 1.25 1.60 1.00

7.00 6.00 6.00 5.00 5.00 3.00 3.00 2.50 2.50 1.50 1.50 1.00 1.25 0.80

Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads Main Roads Off Roads

Since the rent-ability of special type of properties is different from that of general residential and commercial properties, therefore at the time of determining their rent-ability, the figures recorded in the valuation table shall be adopted after subtractions and additions prescribed.
I Plazas and Rented- out Multistory Buildings Properties 20-30 Years Old And 30 Years Or More Old Properties Reduction of 10% for each floor above and below ground floor/Inter-floor subject to a maximum of 50% of the rate specified in valuation table. (w.e.f. 1.1.2002 to 30.6.2002) Reduction of 10% of the rate specified in the valuation table subject to condition that there is no addition/alteration in the building during this period. (Substituted w.e.f. 1.7.2002) Reduction of 10% in the rate specified in the Valuation Tables in case the property is between 20 and 30 years old;

II

III

IV

Seasonal Use Of Properties Like CottonGinning Factories, Rice Husking Mills, Oil Mills, Ice Factories. Etc. Buildings & Lands Used as Office, Educational Institutions. Hotels

Reduction of 15% in the rate specified in the Valuation Tables in case the property is 30 years old or more. Provided that there is no addition/alteration in the buildings referred to in Sub Para a & b above during this period. Reduction of 50% of the rate specified in the valuation table.

Addition of 50% in the residential rates (Self or Rented as the case may be) specified in the valuation table. In case of buildings and lands used or hotels, the rent-ability shall be made as per following: i) The rent-ability of land area under commercial use excluding parking places shall be calculated on the basis of self-commercial rates.

ii) The rent-ability of covered area of such buildings other that

lodging units, lobbies dinning halls, kitchens other than the Banquet Hall, Business Halls etc. shall be assessed on the basis of self commercial rates prescribed in the valuation table. iii) The rentability of covered area let out to different organization will be assed on the basis of commercial rates prescribed in the valuation table. iv) The portions of these units being let out, as lodging units shall be assessed on the basis of existing formula based upon rack rates giving allowance on account of vacancy/service change & machinery as the case may be according to the existing procedure.

VI

Hospitals & Marriage Halls, Cinemas, Petrol Pumps Etc.

VII

Industrial Units.

Commercial rates self or rented as the case may be specified in valuation table. At the time of calculation of Land Area and Covered Area, the doctors rooms, patient rooms, wards, operation theatres, waiting rooms/bridal rooms, Mak-up rooms etc shall be accounted for. Residential rates (self or rented as the case may be) prescribed in the valuation table with following conditions:- Upto 1 ACRE- Above rate. Next 4 ACRE- Reduction of 20% in the above rate Exceeding 5 ACRE- Further reduction of 20% in the above rates. As per existing procedure of fixed rates per kanal. Reduction of 50% in commercial rate self or rented as the case may be as specified in the Valuation Table.

VIII IX

Agricultural Land. Godowns/Workshops With Tin Shed