Section 89 in The Howrah Municipal Corporation Act, 1980
89. Determination of annual value.
- For the purpose of determination of the [property tax] [Word substituted for the words 'consolidated rate' by W.B. Act 17 of 1995.] on any land or building,(a)the annual value of land, and the annual value of any building erected for letting purposes or ordinarily let, shall be deemed to be the gross annual rent at which the land or building might at the time of assessment be reasonably expected to be let from year to year, less, in the case of a building, an allowance of ten per cent, for the cost of repairs and for all other expenses necessary to maintain the building in a state to command such gross rent; and(b)the annual value of any building not erected for letting purposes and not ordinarily let, shall be deemed to be five per cent, on the sum obtained by adding the estimated present cost of erecting the building, less a reasonable amount to be deducted on account of depreciation (if any), to the estimated present value of the land valued with the building as part of the same premises :Provided that -(i)the annual value of a hut in bustee shall be the gross annual rent at which the hut may reasonably be expected to let from year to year less ten per cent, of such annual rent to maintain the said hut in a state to command such gross rent; and the land upon which such huts in a bustee are erected together with the remaining land, excluding the land used for roads and other public uses, shall be assessed separately under the provisions of this Chapter;(ii)in calculating the value of any land or building under this section, the value of any machinery on such land or in such building shall be excluded, but all fixtures including lifts and electric and other fittings which add to the convenience of the building shall be valued, subject in the case of a lift to such deduction from the valuation, as the Commissioner may think proper, on account of the cost of repairs to, maintenance of, and attendance on, such lift;(iii)if in the case of a building valued under clause (b), the annual value of which does not exceed five hundred rupees, any exceptional circumstances exists which render a valuation of five per cent, on the cost of erecting the building less depreciation, excessive, a lower percentage may be taken;(iv)when any building has been valued at a special percentage taken under clause (iii) of this proviso, it may be re-valued at any time after the exceptional circumstances referred to in that clause have ceased to exist.
