Property Tax

Although inclusive development in J&K is vibrantly conspicuous with the ongoing implementations in Smart City Mission, there is no end to problems – the latest in the form of Property Tax. Speaking at the sidelines of development, it is learnt that the levied tax rates will be 5% Taxable Annual Value (TAV) on residential buildings and 6% on commercial establishments.
Widespread criticism was faced by the Government post the announcement of Property Tax. Political parties, along with the general masses lashed out unequivocally, stating that the decision must rest up to Elected Government rather than the proxy rule, which has been immature with its policies and is persecuting the downtrodden and middle class.
Jammu Municipal Corporation (JMC) Commissioner Rahul Yadav has given assurance that the Tax levied will be a nominal amount. Still makes people subject to another Tax!
Property Tax levied in Delhi is 15% residential and 20% non-residential – way higher than J&K, but one can commute the earnings in the capital, which are more than the people getting in J&K. While Manoj Sinha out rightly said the Tax levied in J&K is least in the whole country, the administration was severely reprimanded. No such tax should be imposed in UT till its per capita income enhances which is feasible with several facets like when it is completely a Smart City and when there is an elected Government.
It is pertinent to mention that one-day Jammu Bandh call by Chambers of Commerce & Industry Jammu evoked cold response as the shops were wide open in every colony, but that does not count as an attribute of the Property Tax.
In a nutshell, people are unhappy with Property Tax, and if the Government is so enthusiastic about the Tax, it shall levy it after the Assembly Elections.
Sahil Bhat
Buta Nagar, Jammu