{"id":61155,"date":"2020-02-07T17:57:38","date_gmt":"2020-02-07T12:57:38","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=61155"},"modified":"2020-02-07T17:57:39","modified_gmt":"2020-02-07T12:57:39","slug":"punjab-property-value-assessment-2020","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-property-value-assessment-2020.html","title":{"rendered":"Punjab property value assessment begins; taxes expected to increase by 30%"},"content":{"rendered":"\n<p>Lahore: The Punjab Excise, Taxation and Narcotics Control Department has initiated a process to assess the value of properties across the province presently covered under the tax net, a news source reported. As per the publication, the government is expected to increase property taxes by 25% to 30% based on the data collected through the process.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/committee-formed-to-increase-property-taxes-in-punjab.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Committee formed to increase property taxes in Punjab (opens in a new tab)\">Committee formed to increase property taxes in Punjab<\/a><\/p>\n\n\n\n<p>The assessment process will help the government to revise and raise the valuation tables for properties. The valuation tables act as the key matrix to determine property tax on respective properties. Sources within the Excise Department claim that property values in the province have gone up by 8% to 35% during the last five years. The corresponding rates in the valuation tables will be adjusted accordingly. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/the-government-of-punjab-shows-reservations-over-property-tax-revenue-collection.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"The Government of Punjab shows reservations over property tax revenue (opens in a new tab)\">The Government of Punjab shows reservations over property tax revenue<\/a><\/p>\n\n\n\n<p>The new property taxes that will be determined according to\nthe new valuation tables will be collected starting from the new fiscal year in\nJuly 2020. Additionally, work on property value assessment is currently under\ndevelopment and the report in this regard will be shared with Punjab Chief\nMinister Sardar Usman Buzdar soon. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Punjab Excise, Taxation and Narcotics Control Department has initiated a process to assess the value of properties across the province presently covered under the tax net, a news source reported. As per the publication, the government is expected to increase property taxes by 25% to 30% based on the data collected through the process. Read: Committee formed to increase property taxes in Punjab The assessment process will help the government to revise and raise the valuation tables for properties. The valuation tables act as the key matrix to determine property tax on respective properties. Sources within the Excise Department claim that property values in the province have gone up by 8% to 35% during the last five years. The corresponding rates in the valuation tables will be adjusted accordingly. Read: The Government of Punjab shows reservations over property tax revenue The new property taxes that will be determined according to the new valuation tables will be collected starting from the new fiscal year in July 2020. Additionally, work on property value assessment is currently under development and the report in this regard will be shared with Punjab Chief Minister Sardar Usman Buzdar soon.<\/p>\n","protected":false},"author":18,"featured_media":60282,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[18418,18417],"persona":[],"class_list":{"0":"post-61155","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-property-tax-in-punjab","9":"tag-punjab-property-value-assessment","10":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Punjab property value assessment 2020 - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Punjab Excise, Taxation and Narcotics Control Department has initiated a process to assess the value of properties across the province presently\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/punjab-property-value-assessment-2020.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab property value assessment 2020 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Punjab Excise, Taxation and Narcotics Control Department has initiated a process to assess the value of properties across the province presently\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-property-value-assessment-2020.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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