Section 146 in The Punjab Panchayati Raj Act, 1994
146. The Local Rate.
(1)Except as hereinafter provided, all land shall be subject to payment of a rate to be called 'the local rate' at the rate of twenty-five paise per rupee of its annual value.(2)The State Government may, by notification-(a)exempt any land or any class of land from the levy of the local rate; or(b)in respect of the whole or any part of the area subject to the authority of a Panchayat Samiti, abolish or reduce or on the recommendation of the Panchayat Samiti increase the local rate.
