- The assessment of lax shall be made on the basis mentioned hereunder:-(a)(i)Calculation of Annual Value of residential building-Carpct area x fixed per unit area monthly rate of rent x 12orCovered area x fixed per unit area monthly rate of rent x 12 x 80%(ii)Calculation of Annual Value of residential land-Area of land x fixed per unit area monthly rate of rent x 12(b)(i)Calculation of Annual Value of non residential buildings - Covered area x monthly rate of rent per unit area fixed on the basis of the multiplier in relation with the rate of residential building x 12(ii)Calculation of Annual Value of non residential lands -Area of land x monthly rate of rent per unit area fixed on the basis of the multiplier in relation with the rate of residential building x 12(2)Payable tax. - Taxes would be payable in accordance with the rates fixed under Section 148 of the Act on the basis of annual value.(3)Rebates - Rebates shall be admissible in annual value of residential buildings and taxes shall be payable in accordance with the provisions prescribed in the Act.(4)Self-Assessment - The person who holds the primary liability of paying the property tax of building or other liable person shall deposit the tax fixing in accordance with the provisions of Rule 4 and Rule 4-C and giving the details of the property in Form 'A' or Form 'C. as the case may be. of the rules in place of returns required in Rule 3 in the Banks prescribed by Municipal Commissioner up to the date fixed under sub rule (1) of rule 3 with Form 'A' or Form 'C\ as the case may be. and challan.(5)Special provisions in Self-Assessment - The pay liability of property taxes by self-assessment up to the fixed date under sub-rule (4) shall not be more than previous year to the extent as may be prescribed by the Government from time to time.(6)Incentive - Incentive to the owners or occupiers of non residential buildings may be provided by giving rebates in the annual value of the building or land as the case may be in the following manner:(a)Building in which the system of rain water harvesting or ground water recharging is installed and operational provided or at least 40% of the area is covered by the plantation and greenery or proper and adequate parking lots are available or if engaged in trade or manufacture or any activity which causes pollution, but effective anti pollution measures have been adopted, shall be provided incentive to each by giving rebate of 2% in its annual value. Provided that the above rebates shall be granted on year to year basis after verifying the existence and proper up keep of the facilities and measures mentioned under this clause:(b)Annual value of the such building as mentioned in Clause (a) shall be increased by 2% if this building does not provide measure mentioned in Clause (a).]
