Property tax reduced by 200 percent

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Chaklala Cantt Board (CCB) on Friday scaled down the property tax by 200 percent.

Sources said that the CCB had increased the property tax fourfold during 2011, resulting in decreased tax revenue.

MilitaryLand and Cantonments’ top officials and elected public representatives had issued directives to the concerned quarters to decrease the tax, which has now been done.

As per the revised assessment policy, property tax would go down from Rs 60,000 to Rs 20,000 per annum for residences in posh areas, while new properties would be assessed keeping the tax levy in perspective.

CCB Chief Executive Officer (CEO) said that this step had been taken for the public interest and it would increase tax collection manifold as it integrated newly built houses in the tax net.