The Punjab government has decided to introduce a property tax on residential houses across the province, a move that may add to the financial strain on residents, according to sources.
The Punjab Excise and Taxation Department has been instructed to compile a comprehensive record of all houses by next month.
The new tax will apply to houses measuring 5 marlas or more, with the rates determined based on the property’s value. Properties valued above Rs 5 million will fall under this new tax bracket.
Additionally, the Punjab cabinet’s standing committee recently approved a garbage tax to be imposed on both residential and commercial properties in rural and urban areas.
In rural areas, a 5 marla house will be taxed Rs 20 per month, while in urban areas, the same size house will face a tax of Rs 300. The tax rates increase for larger properties and commercial establishments, pending final cabinet approval.