No Property Tax for small houses; meagre for small businesses

Srinagar February, 23 (PTK) J&K one of the last in the country to levy it with minimum financial implications for people

Collections to be utilized exclusively for developmental activities in respective Municipalities

misinformation created among people should be addressed by taking them along. He asked them to involve the elected representatives and civil society members in dissemination of the information and actual objectives of imposing this tax here.

On the occasion the Chief Secretary also impressed upon the officers to create awareness among public for removing misconceptions. He told them to create a helpline for the masses which would disseminate the correct information about this matter. He urged them to come up with a simple ‘Property Tax calculator’ for people so that they themselves are able to assess the actual amount they are liable to pay.

It was also mentioned that economy of J&K has been doing well and unemployment rate as per GoI data has shown healthier trend.  The per capita income of people of J&K is amongst better States/UTs.

Dr. Mehta emphasised on the fact that people should be made aware that it is not permitted to direct ULB resources for any other purposes.  The  property tax paid by people shall be used in their own areas.  The accumulations of the tax money will be collected by the ULBs, retained by them and used for their development needs exclusively. The tax to be collected from the people shall be spent only for their betterment, improving their quality of life.

Regarding its implications it was said that the Property Tax is to be levied annually and can be paid in two equal installment.  Further, 10% rebate can be availed by early payment of the Property Tax.

The payment of property tax shall also facilitate common people in availing various facilities and services through their concerned local bodies with the expenditure of funds collected by levying this tax.

No: PR/DI/22/2886/ (PTK)