Owners or residents of properties will reassess the value of their properties during the ongoing reassessment operation of properties under Excise and Taxation department Punjab.
Prescribed survey forms will be distributed door to door for this purpose, according to a press release issued here on Monday. Owners/residents of properties will fill and submit the said forms to the concerned excise office.
The measure will bring hundreds of thousands of newly built houses in the property tax net, thereby raising the overall property tax amounts. A comprehensive survey of properties will be conducted during the reassessment operation.
A unique property number will be allotted for each house. Excise staff will also collect the details of every house, like the total area of the property, covered area and details of constructed rooms. DG Excise and Taxation Punjab, Raja Sikandar Sultan has issued a schedule for the property reassessment survey, and fixed a period for the completion of each exercise during the survey.
A large number of new houses have been constructed in recent years due to new housing colonies and expansion of population in urban areas of the province.
All details of such houses will be collected which will help expand the property tax net and not only raise the estimate of property tax receipts but also other relevant tax receipts as well.
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