The government of the Punjab, Pakistan has made a Property Tax Calculator available with the Taxpayer online to help them find their tax liability; this calculator has made property tax calculation possible and easier for them. Previously , the tax liability was based on rents of the properties, but it is now based on average rents of localities by using system of categories. Therefore, your tax liability may change with the change in:
1 - Area of the property;
2 - Covered Area of the property;
3 - Use of the Property; and
4 - Category of the locality in which the property is situated.
You may also like to read:
Property Tax Calculator
How to use the Property Tax Calculator
Punjab, Pakistan: Property Tax
In Pakistan, Property Tax is calculated using the following formula:
Property Tax = Value of the Property X Rate of Property Tax
Rate of Property Tax is determined by the provincial assembly for collection and assessment of Property Tax.
The Value of a Property is determined by the size of the property and applicable valuation rates. The valuation rates are rates from a notified Schedule or Table of Valuation.
Property Tax calculation in Pakistan is similar across the country with minor changes for calculations in provinces; therefore, you find property tax calculation formula in Punjab similar to the formulas in other provinces.
You may also like to read:
Understanding your PT1 form
What are property tax rates in Punjab, Pakistan?
Disability places people in a special class: Special People. The federal and provincial governments and NGO's actively work for the welfare of disabled persons. (List of NGO's working for disabled persons) These people have certain right that government gives them due to their inability to live a normal life like a normal person. One such special right is exemption from payment of Property Tax up to a certain limit.
Disabled People and Property Tax in Pakistan
Exemption from property tax is available with several classes of persons owning properties and several types of properties. One eaxample of such exemptions is exemption for disable persons. Thus, if a disabled person owns a real or immovable property, he, or she will not pay property tax. However, the person will have to pay the tax in excess of Rs. 1,2150. This amount of tax corresponds to annual value of Rs 48,600.
For viewing a full set of exemptions from payment of property tax, click here.
You may also like to read:
Property Tax in Pakistan
.jpg "Propperty Tax Calculation Made Easy")
