(1)Every building shall be assessed together with its site and other adjacent premises occupied as an appurtenance thereto unless the owner of the building is a different person from the owner of such site or premises.(2)[ Notwithstanding anything contained in the Kerala Buildings (Lease and Rent Control) Act, 1965 (2 of 1965) or any other Jaw for the time being in force, for the purpose of assessing the property tax, it shall be assessed in the prescribed manner on the basis of the annual value of any buildings and lands adjacent to it, the importance of area where the building is situated, type of the building construction, method of use, plinth area, reasonable annual maintenance cost etc. and the tax shall be determined for the said building and land at the rate fixed by the Council under sub-section(3) of Section 233:Provided that from the property tax assessed in such manner, property tax shall be fixed by allowing the deduction at the rate of ten per cent to buildings above ten years and upto twenty years old, twenty per cent to buildings above twenty years and upto fifty years old and twenty-five percent to buildings above fifty years old,(3)In the case of a building given for the use of another person upon rent or on such other condition by the owner, the property tax shall be assessed by adding with it an amount equal to twenty-five per cent of the assessed tax under sub-section (2).(4)The Government may make rules regarding the person by whom and the intervals at which the annual value of buildings, the deduction or addition in the tax to be made etc,, is to be determined and the procedure for the realisation of tax amount.] [Substituted by Act 14 of 1999, w.e.f. 24-3-1999.]
