Section 108(2) in Karnataka Municipal Corporations Act, 1976
(2)[ The property tax shall be levied in case of,-(a)commercial building at such percentage not being less than 0.5 per cent (rupees five per thousand) [and not more than three percent] of taxable capital value of the building;(b)residential building and buildings other than commercial building, at such percentage not being less than 0.3 per cent (rupees three per thousand) and not more than [one per cent (rupees ten per thousand)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of the building;(c)vacant land,(i)measuring not above one thousand square meters, at not less than 0.1 per cent (rupees one hundred per lakh) [and not more than 0.5 percent (rupees five hundred per lakh)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of land,(ii)measuring above one thousand square meters but not above four thousand square meters, at not less than 0.025 per cent (rupees twenty five per lakh) [and not more than 0.1 percent (rupees one hundred per lakh)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of land,(iii)measuring above four thousand square meters, at not less that 0.01 per cent (rupees ten per lakh) [and not more than 0.1 percent (rupees one hundred per lakh)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of land.]
