Property Tax in Pakistan in 2023-2024
Property tax is a tax levied on the cost of immovable assets, along with land, buildings, and houses. It is one of the maximum essential resources of revenue for the authorities of Pakistan.
Property tax costs in Pakistan
Property tax quotes in Pakistan range from province to province. The following table shows the belongings tax charges for the 4 provinces of Pakistan in 2023-2024:
-
Province
- Punjab
- Sindh
- Khyber Pakhtunkhwa
- Balochistan
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Property Tax Rate
- 0.5% to at least one% of the property price
- 0.5% to one.Five% of the belongings value
- 0.5% to 2% of the property fee
- 0.5% to one% of the property cost
Exemptions from assets tax in Pakistan
There are a number of exemptions from assets tax in Pakistan. These exemptions include:
- Property owned by the authorities or by way of non secular agencies
- Property used for academic or charitable purposes
- Agricultural land
- Property owned through persons with disabilities
- Property owned by means of widows and orphans
- How to pay assets tax in Pakistan
Property tax can be paid online or at any certain financial institution department. To pay belongings tax on-line, go to the website of the provincial tax branch. To pay belongings tax at a financial institution department, visit any department of the National Bank of Pakistan or every other detailed financial institution.