Srinagar: Divisional Commissioner Kashmir, V K Bidhuri, said here on Saturday property tax rates are comparatively low in Jammu and Kashmir.
Speaking to reporters here, Bidhuri said J-K is the last among the states and UTs where this tax has been enforced.
Bidhuri, who was accompanied by Srinagar Municipal Corporation (SMC) Commissioner, Athar Aamir Khan, said property tax is the main source of revenue for urban local bodies.
“Property tax is the main source of revenue for a municipality. It is a progressive tax and it is not imposed uniformly across the spectrum. Poor people will not have to pay tax like the rich who have more assets,” he said.
The divisional commissioner said the tax is being imposed only in urban areas and not in rural areas.
“Agricultural land is exempted from it. A residential house up to 1000 square feet is exempted. So, one-third of the population in the UT is already exempted. The tax rate is very low as compared to other states/ UTs,” he added.
Bidhuri said the tax has to be paid once annually and the money will get deposited in the account of the municipalities.
The collected amount will be used for the people for ensuring better facilities to them, he added.
Political parties in the UT have demanded roll-back of the government order and asked the administration to put it on hold for few years in view of the economic situation.

 

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