The Punjab government has decided to introduce a property tax on houses across the province, further adding to the challenges faced by an already burdened public.
According to sources, the Punjab Excise and Taxation Department has been instructed to compile a comprehensive record of all houses in the province by next month. The new tax will apply to properties measuring 5 marlas or more, with rates varying based on the property’s value.
Houses valued at over Rs 5 million will fall under the tax bracket, sources confirmed.
This decision follows the Punjab cabinet’s recent approval of a garbage tax, which will be applied to both residential and commercial properties in rural and urban areas.
In rural areas, a 5 marla house will be taxed Rs 20 per month, a 10 marla house Rs 40, small businesses Rs 300, medium businesses Rs 700, and large businesses Rs 1,000.
In urban areas, the tax rates will be higher: a 5 marla house will be charged Rs 300, houses ranging from 10 marla to 1 kanal will be taxed between Rs 500 to Rs 2,000, and properties exceeding 1 kanal will face a monthly tax of Rs 5,000.
The property tax will be enforced once it receives final approval from the cabinet.