[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The Capital Development Authority (CDA) has announced a significant overhaul in property tax rates across the entirety of the Islamabad Capital Territory (ICT) with the aim of boosting revenue collection. In a departure from previous practices, the CDA has extended property tax regulations beyond just sectors to encompass the entire territory. This marks the first instance of a uniform flat rate being introduced for property tax.
Under the new scheme, employees of private organizations registered with the EOBI will receive a 10% concession on their property tax, mirroring the benefits enjoyed by government employees. This concession will apply to those who settle their dues by September 30 each year. Certain entities such as government hospitals, educational institutions, libraries, and offices of federal and provincial governments will be exempt from property tax. However, semi-government institutions will not enjoy the same exemption.
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For properties within specific areas like Sector E-11, model towns, and the PHA Kurri Housing scheme, the CDA will levy taxes ranging from Rs24,000 per year for houses on 140-yard plots to Rs200,000 for those on 4,000-yard plots. Similarly, in Park Enclave, taxes will range from Rs25,000 for 140-yard houses to Rs227,000 for 2,000-yard properties.
Notably, property tax will now extend to areas like the Defence Housing Authority (DHA), Bahria Enclave, and Bahria Town. For instance, a five-marla house in these areas will incur an annual tax of Rs27,000, while a six-kanal house will face a tax of Rs298,000.
In specific locales such as Gulberg and Naval Anchorage, property tax will range from a minimum of Rs20,000 to a maximum of Rs170,000. In designated series like D, G, F, and I, taxes will vary accordingly, with F series properties facing the highest tax ranging from Rs35,000 to Rs1.2 million annually, depending on the size and location of the property.[/vc_column_text][/vc_column][/vc_row]
