Govt begins exercise for imposition of Property Tax through ULBs
Govt begins exercise for imposition of Property Tax through ULBs Step to help in availing Rs 503 cr addl borrowings from GoI
Mohinder Verma
JAMMU, Feb 15: In a move which may not be welcomed by the people but has become compulsion to get additional borrowings from the Centre, the Government of Union Territory of Jammu and Kashmir has started an exercise for the imposition of Property Tax through Urban Local Bodies (Municipal Corporations, Municipal Councils and Municipal Committees).
Moreover, Property Tax Board will be constituted shortly on the recommendations of the Housing and Urban Development Department to deal with all the aspects relating to assessment and valuation of properties across the Union Territory.