Property tax draws criticism from Ludhiana citizens
The new property tax policy of the state government of Punjab has not gone down well with the citizens of Ludhiana.
The property tax rates fixed at 1 per cent for residential, 1.5 per cent for institutional, 2 per cent for industrial and 4 per cent for commercial property are being considered very high by the citizens.
Under the tax regime, if someone has a factory of 1,000 yards at a place like Focal Point, Ludhiana, he will have to pay around Rs 2 Lakh per year.
The tax is based on the market value of the property, which is being considered exaggerated as the citizens are already paying several taxes.
The government is facing criticism from opposition parties as well for the proposed tax regime.
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[...] Property tax draws criticism from Ludhiana citizens [...]