(3)For purposes of sub-section (2) the annual value of a building or place used as a warehouse or workshop shall be deemed--(a)if it is situated within a municipality, to be the annual value at which it is assessed for the payment of municipal taxes :Provided that if such building or place forms part of any holding assessed as a whole for the payment of municipal taxes, the annual value of such building or place shall be such as may be determined in this behalf by the Gangtok Municipal Corporation in such proportion which such building or place bears to the entire holding;(b)if it is situated outside municipality, to be seven and half per cent of the current market value of the building or place as may be determined by the Local Self Government Department.
