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80% people almost won’t be paying property tax: LG

80% people almost won’t be paying property tax: LG

Jammu: Lieutenant Governor Manoj Sinha Wednesday stated the J&K Property Tax (slab) was devised in such a manner that less than Rs 1000 would have to be paid per annum and “in a way, eighty percent of people (in the municipal areas) almost would not be paying it.”

He stated that even those, who would be covered under the tax slabs, would pay it at nominal rates.

LG Sinha was responding to the media queries after inaugurating the GST symposium and tax awareness initiative ‘Kar-Tavya’ for industries, traders associations, DDOs and other stakeholders at the Convention Centre here.

“Annually, the people (in the municipal areas) will have to pay less than Rs 1000. So I would say, in a way almost there is no tax for eighty percent of people. Yes it has been imposed upon some people,” he said.

“Even they would be paying it at a very nominal rate, if you compare it to the other cities of the country. I’m not talking about Delhi, Chandigarh or Mumbai. But if you will just compare it (tax slab) to the rate imposed in Shimla, here in J&K, it is less than one-tenth of the rate prevalent there (in Shimla),” the Lieutenant Governor said.

“Every year, we pay Rs 900 crore to the Urban Local Bodies (ULBs). Hence I’ll request the common citizens of J&K to come forward on this account. Another important aspect which we have been highlighting is that a part of this tax will directly be credited to the account of the concerned municipality or corporation,” he added.

He pointed out that the step (imposition of property tax) was taken to make the cities of UT as the engines of its growth. “And I feel this (step) will contribute to the development of J&K in its own and big way,” he said.

Earlier even during his address, he had referred to the computation under the Property Tax Rules whereby eighty percent of the (taxable) households would have to pay less than Rs 600 per annum, which would be around Rs 50 per month.

On February 25, the Lieutenant Governor had stated that the property tax would be implemented in J&K in consultation with people and the interest of common citizens would be safeguarded.

“Our cities must witness rapid development and emerge as engines of growth. For that, financial self-sustainability of cities is necessary. Property tax in J&K will be one of the lowest in the country and will be used for improving public amenities in J&K,” he had tweeted.

“Implementation shall be done in consultation with the general public. Common citizens’ interests will be protected,” he had added.

J&K administration had notified Jammu and Kashmir Property Tax (Other Municipalities) Rules, 2023, on February 21. Tax will be in force from April 1, 2023.

The proposed tax will be implemented in the municipal limits only and not in rural areas. The administration expected that the tax would generate an estimated Rs 150 crore revenue collection in 2023-24. GK

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