Oct 09,2020:Union Ministry of Home Affairs has empowered J&K government to impose the property taxes in the Union territory.
An order issued by Secretary MHA, Ajay Kumar Bhalla, said power has been vested after making certain amendments in J&K Municipal Act, 2000 and J&K Municipal Corporation Act, 2000 through the J&K Reorganisation (Adaption of State Laws) order, 2020.
Explaining description and class of property tax, the section 72 of the order reads “unless exempted under this Act or any other law for the time being in force, property tax shall be levied on all lands and buildings or vacant lands or both situated within the municipal area.”
The property tax shall be levied at such percentage not exceeding 15% of the taxable annual value of land and building or vacant land or both, as the government may, by notification, from time to time specify, the MHA’s order reads.
