Section 16(2) in Tamil Nadu Village Panchayats (Assessment and Collection of Taxes) Rules, 1999
(2)Machinery and furniture shall be excluded for purpose of determining the value under this rule. -(a)The annual rental value of house shall be deemed to be the gross annual rent at which the house may reasonably be expected to let from month to month, or from year to year, less a deduction of ten per cent of such annual rent and the said deduction shall be in lieu of all allowances for repairs or on any other account whatsoever.(b)In the case of -(i)any Government or railway building falling within the definition of "house" under the Act;(ii)any building falling within the definition aforesaid of a class not ordinarily let and the gross annual rent which cannot in the opinion of the executive authority be estimated,the annual value shall be deemed to be six per cent of its capital value:Provided that in the case of buildings in industrial estates and developed plot estates, where the amenities are provided by the Industries Department or any other authority, the annual value shall be deemed to be four percent of its capital value.
