ISLAMABAD: The province have collected Rs7.03 billion as property tax during fiscal year 2018/2019 as compared with Rs5.55 billion in the preceding fiscal year, showing growth of 26.57 percent, according to details issued by the federal finance ministry.
The collection of property tax is provincial jurisdiction and the provinces collected the tax on rental of immovable property. The sources said that the increase in tax revenue under this head was due to revision in valuation of rents on immovable properties by the provinces.
The break-up shows that the province of Punjab collected Rs2.816 billion as property tax during fiscal year 2018/2019, which is 23.6 percent higher when compared with Rs2.278 billion in the preceding fiscal year.
Sindh collected Rs2.85 billion as property tax during the last fiscal year, showing 41.2 percent growth when compared with collection of Rs2.016 billion in the preceding fiscal year.
Khyber Pakhtunkhwa also collected Rs1.15 billion during the fiscal year 2018/2019 as compared with Rs1.13 billion in the preceding fiscal year.
Baluchistan collected property tax to the tune of Rs213 million in the last fiscal year as compared with Rs122 million in the preceding fiscal year.
