{"id":88730,"date":"2022-09-16T11:47:19","date_gmt":"2022-09-16T06:47:19","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88730"},"modified":"2022-09-16T11:47:24","modified_gmt":"2022-09-16T06:47:24","slug":"punjab-property-tax-rate","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-property-tax-rate.html","title":{"rendered":"Punjab fixes property tax rate at 1%"},"content":{"rendered":"\n<p>Lahore: Punjab Chief Minister (CM) Pervaiz Elahi on Thursday (September 15) signed the bill fixing the property transfer rate at 1% of the total value of the property, news sources reported.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/punjab-et-to-use-technology-to-identify-owners-evading-property-taxes.html\" data-type=\"post\" data-id=\"72722\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab E&amp;T to use technology to identify owners evading property taxes<\/a><\/p>\n\n\n\n<p>The new property transfer rate will apply to all property-related transactions, including commercial assets, across the province. According to a <a href=\"https:\/\/www.zameen.com\/news\/punjab-cm-visits-pdma-office-suggests-improvements.html\" data-type=\"post\" data-id=\"53579\" target=\"_blank\" rel=\"noreferrer noopener\">statement issued by the CM Office,<\/a> the principal objective for lowering and regularising transfer rates is to encourage the real estate industry and expand building activity, producing more employment.<\/p>\n\n\n\n<p>Furthermore, it was said that the new policy is intended to bring relief to the masses in property-related concerns and is in line with the government&#8217;s vision of promoting the housing sector.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-income-tax-returns-deadline.html\" data-type=\"post\" data-id=\"88633\" target=\"_blank\" rel=\"noreferrer noopener\">FBR urges citizens to file returns before approaching deadline<\/a><\/p>\n\n\n\n<p>It is worth noting that the property transfer rate previously varied across cities in Punjab and property types. The tax was determined on a rolling basis, with the government charging active taxpayers up to 1% and non-tax filers 2%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: Punjab Chief Minister (CM) Pervaiz Elahi on Thursday (September 15) signed the bill fixing the property transfer rate at 1% of the total value of the property, news sources reported. Read: Punjab E&amp;T to use technology to identify owners evading property taxes The new property transfer rate will apply to all property-related transactions, including commercial assets, across the province. According to a statement issued by the CM Office, the principal objective for lowering and regularising transfer rates is to encourage the real estate industry and expand building activity, producing more employment. Furthermore, it was said that the new policy is intended to bring relief to the masses in property-related concerns and is in line with the government&#8217;s vision of promoting the housing sector. Read: FBR urges citizens to file returns before approaching deadline It is worth noting that the property transfer rate previously varied across cities in Punjab and property types. The tax was determined on a rolling basis, with the government charging active taxpayers up to 1% and non-tax filers 2%.<\/p>\n","protected":false},"author":84,"featured_media":76290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[54100,54101],"persona":[],"class_list":{"0":"post-88730","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-punjab-fixes-property-tax-rate-at-1","9":"tag-punjab-property-tax-announcement","10":"cat-15017-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 fixes property tax rate at 1% - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: Punjab Chief Minister (CM) Pervaiz Elahi on Thursday (September 15) signed the bill fixing the property transfer rate at 1% of the total value of\" \/>\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-tax-rate.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab fixes property tax rate at 1% - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: Punjab Chief Minister (CM) Pervaiz Elahi on Thursday (September 15) signed the bill fixing the property transfer rate at 1% of the total value of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-property-tax-rate.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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