With respect to the state Assembly elections which are going to take place next year, the government of Jammu and Kashmir is treading carefully on the imposition of property tax. In respect to the economic conditions of the citizens of this state, a political decision will be taken regarding the property tax.The government also said that this process would take some time. The state government is ready to take support of the Property Tax Board (PTB) which would cover the ways for imposing tax on properties. The government has decided to appoint a chairman of board who would study the property tax model of different states and would come with some suggestions and solution concerning the imposition on property tax.The bill for the establishment of PTB has been passed by the Council. It has also been referred to the Committee. The bill consist the methods of how to assess and levy the taxes on property. On the basis of the property tax law, 4% of the tax will imposed on residential properties and 10% would be levied on commercial properties. This law is applicable only for the areas that are within the limits of Municipal Corporation of Srinagar and Jammu. In the Municipal Committees only the commercial properties would be taxed of about 3% whereas the Municipal Council would charge upto 3% tax on the residential properties and 7% on commercial properties.The government doesn’t want to take any step that would affect the relation the state citizens and the government. Due to the non-fulfillment of the property tax condition, Jammu Kashmir did not receive funds when it needed from New Delhi.The law is already getting positive response from many states and is expected to get a positive response from this state too. The Property Tax Board is still on papers but soon will be brought into action, officials said.займ на карту без отказов круглосуточновзять кредит онлайн