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Jammu KashmirProperty tax in J&K comparatively low: Div Com

Property tax in J&K comparatively low: Div Com

Date:

SRINAGAR : Amid uproar over the imposition of property tax in and , the Divisional Commissioner Kashmir, V K Bidhuri, today said that the tax rate in the Union Territory is comparatively low. Speaking to reporters here, Bidhuri who was accompanied by Srinagar Municipal Corporation (SMC) Commissioner, Athar Aamir Khan ,said that the move is aimed at ensuring better facilities for the people of the J&K.
The Divisional Commissioner said J&K is the last among the states and UTs where this tax has been imposed. Bidhuri said property tax is the main source of revenue for urban local bodies and poor are exempted. “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. He 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. Bidhuri and Khan along with senior officials from Srinagar Municipal Corporation later held a detailed meeting and discussion with the representatives of various trade federations to discuss the proposed property tax within Srinagar Municipal limits. The meeting was attended by Kashmir Chamber of Commerce & Industry, Kashmir Hoteliers Association, PHD Chamber of Commerce and Industries, KCIF, KTMF, CCIK, Kashmir Economic Alliance and many other trade federations and civil society bodies.
During the meeting, Div Com and Commissioner SMC gave a detailed presentation to all stakeholders about the property tax. The process and method of property tax calculation was discussed with the members present. It was impressed that the property tax adopted by J&K is a progressive model. “The tax to be collected will go into the account of the local bodies only and will be used for the development of the respective city only. The Tax rates are among the lowest in the country,” they informed.
The members present calculated the model test cases of commercial as well as residential properties. The tax slabs have been kept in a very progressive manner so that the distributive justice is taken care of.
The members present gave their valuable feedback and sought clarifications on a number issues related to the collection. The officials present replied to the queries raised.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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