Section 119 in West Bengal Municipal Corporation Act, 2006
119. Determination of annual valuation.
(1)Notwithstanding anything contained in the West Bengal Premises Tenancy Act, 1997, (West Ben. Act XXXVII of 1977), or in any other law for the time being in force, for the purpose of assessment of the property tax, the annual value of a holding comprising land or building shall be deemed to be the gross annual rent including service charges, if any, at which such land or building might, at the time of assessment, be reasonably expected to let from year to year, less an allowance of ten per cent. for the cost of repairs and other expenses necessary to maintain such land or building in a state to command such gross rent.[Provided that where such land or building or portion thereof is occupied by tenant and is used exclusively for residential purposes, the gross annual rent, may, if opted by the owner or the person liable to pay the property tax, be-(i)the actual rent including service or other ancillary charges, if any, or;(ii)the rent with a weightage factor to the extent of fifty percent on the prevailing reasonable rent.](2)The annual value of a holding comprising vacant land only shall be deemed to be an amount which may be equal to, but may not exceed, five per cent. of the estimated market value of the land at the time of assessment.(3)If the gross annual rent of any class or classes of lands or buildings cannot be easily estimated, the annual value of a holding comprising such land, or building, shall be deemed to be an amount which may be equal to, but may not exceed seven and a half per cent. of, the value of the holding obtained by adding the estimated cost of erecting the building at the time of assessment, less a reasonable amount to be deducted on account of depreciation, if any, in the estimated present market value of the land or building comprised in the holding.(4)The estimated cost of erecting a building shall not, for the purpose of determination of the annual value of a holding comprising land and building, include the cost of any plant or machinery (excepting the parts of plant or of combination of plant and machinery, enumerated in Schedule I) on the land or the building as aforesaid.(5)The annual value as determined under this chapter shall be rounded off to the nearest ten rupees.
