Srinagar: The Jammu and Kashmir administration here has sought feedback from the general public over the proposed tax in the Union Territory.
In a notice, the Housing & Urban Development has sought suggestions/comments from the general public over imposition of property tax in Jammu & Kashmir.
“Any suggestions/ comments in this regard are welcome and may be sent to the Housing & Urban Development Department at the email address [email protected] within 10 days,” reads the notice.
The notice states that UT of Jammu & Kashmir is levying property tax on residential houses/apartments, commercial establishments, within the municipal areas from April 01, 2023 in terms of two notifications issued by the H&UDD on Feb 21.
On February 21, 2023, J&K’s Housing and Urban Development Department issued two separate notifications for levying, assessment and collection of property tax in the urban areas of Jammu and Kashmir, where 27% of the UT’s population resides as per the 2011 census figures.
The Jammu & Kashmir Property Tax (Municipal Corporation) Rules, 2023 and the Jammu & Kashmir (Other Municipalities) Rules, 2023, notified by the government, define the procedure for collection of property tax within the limits of municipal corporations, committees and councils in the UT.
As per these rules, property tax is to be 5% of the taxable annual value (TAV) on residential properties and 6% of the taxable annual value on commercial properties. (KNO)