Section 101(2) in Karnataka Municipalities Act, 1964
(2)The property tax shall be levied in case of, -(a)commercial building at such percentage not being less than 0.5 percent (rupees five per thousand) [not more than three percent] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of the building.[***] [Omitted by Act 19 of 2012 w.e.f. 28.4.2012.](b)residential building and buildings other than commercial at such percentage not being less than 0.3 percent (rupees three per thousand) and not more than [one per cent (rupees ten per thousand)] [Substituted by Act 5 of 2005 w.e.f. 1.4.2005.] of taxable capital value of the building.[***] [Omitted by Act 19 of 2012 w.e.f. 28.4.2012.](c)vacant land measuring not above one thousand square meters, at not less than 0.1 per cent (rupees one per thousand) [not more than 0.5 percent (rupees five per thousand)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of land.(d)vacant land measuring above one thousand square meters but not above four thousand square meters, at not less than 0.025 per cent (rupees twenty five per lakh) [and not more than 0.1 percent (rupees hundred per lakh)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of land.(e)vacant land measuring above four thousand square meters, at not less than 0.01 per cent (rupees ten per lakh) [not more than 0.1.percent (rupees one hundred per lakh)] [Substituted by Act 19 of 2012 w.e.f. 28.4.2012.] of taxable capital value of land.][(2-A)***] [Omitted by Act 19 of 2012 w.e.f. 28.4.2012.]
