ISLAMABAD: The Capital Development Authority (CDA) has implemented an expansion of property tax rates across the entire Islamabad Capital Territory (ICT) with the aim of boosting revenue collection.
Previously, property tax was confined to sectors for both commercial and residential buildings. However, a uniform property tax rate has been introduced for the first time.
Employees of private organizations registered with the EOBI will receive a 10% tax concession, similar to government employees, provided the payment is made before September 30 each year.
Tax exemptions will be granted to government hospitals, educational institutions, libraries, and offices of federal and provincial governments. Semi-government institutions, however, will not benefit from this exemption.
In specific areas such as Sector E-11, model towns, and PHA Kurri Housing scheme, the CDA will levy a tax of Rs24,000 per year on houses built on 140-yard plots, increasing to Rs200,000 for houses on 4,000-yard plots.
In Park Enclave, a house measuring 140 yards will be taxed at Rs25,000 per year, escalating to Rs227,000 for houses on 2000-yard plots.
Property tax has also been introduced for houses in Defence Housing Authority (DHA), Bahria Enclave, and Bahria Town. For example, a five-marla house will be taxed at Rs27,000 per year, while a six-kanal house will face a tax of Rs298,000 annually.
Minimum tax rates for houses in Gulberg and Naval Anchorage will be Rs20,000, with a maximum of Rs170,000. In the D series, taxes will range from Rs27,000 to Rs246,000, for G series, from Rs28,000 to Rs249,000, for F series, from Rs35,000 to Rs1.2 million, and for I series, from Rs25,000 to Rs271,000.
(Islamabad51_Newsdesk)
