| Lahore: The Punjab government is considering the introduction of a new property tax targeting residential properties larger than 5 marlas, as claimed in an article on September 3.
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According to the reports, the Punjab Excise and Taxation Department (PETD) has been directed to compile a detailed list of all residential properties in the province by October 2024. The proposed tax will apply to homes 5 marlas or larger, with the tax amount based on the property’s assessed value. Properties valued above PKR 50 lacs will be subject to this tax.
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Recently, a garbage tax was introduced across the province, impacting both residential and commercial properties. In rural areas, the tax ranges from PKR 20 to PKR 1,000, depending on the size of the property. In urban areas, the tax varies from PKR 300 for a 5-marla house to PKR 5,000 for homes larger than 1 kanal. |
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