Excise Department Exempts Properties Worth Up to Rs5 Million from TaxThe Excise and Taxation Department has announced a major relief for property owners, exempting houses and residential plots valued at up to Rs. 5 million from property tax. The decision was approved by the provincial cabinet and formalized through a notification issued by the Directorate General of Excise and Taxation.
According to the notification, future property taxes will now be calculated based on the district collector (DC) rate. Citizens have also been assured that no additional property tax will be levied this year, as confirmed by Umar Sher Chattha, Director General (DG) of Excise and Taxation.
In a further relief measure, property owners will only be required to pay 25% of the total tax due for the current fiscal year. Additionally, the department has introduced a self-assessment mechanism, enabling citizens to independently calculate their property tax.
“This initiative is designed to simplify the tax system and provide greater ease to taxpayers. With self-assessment, citizens can calculate their property tax themselves without any external intervention,” said DG Umar Sher Chattha.
