CBA alters formula for calculation of property Tax in Abbottabad:

Abbottabad: CBA modified its formula for calculating the tax collection for properties situated in Abbottabad.

The Cantonment Board Abbottabad has altered its formula for calculation of property taxes and after reviewing the properties, the authorities identified around 7000 residential properties as well as the commercial units which were not part of the tax net last year. 

Cantonment executive officer Ammara Ammar has told the reporters this Tuesday that the modification has been made after thorough consultation with the regional headquarters. 

Previously there were around 2500 residential properties that were under assessment she reported and claimed that the rationalization of taxes in the department was underway. The Abbottabad cantonment and the Wah cantonment have been chosen as models for the implementation of property tax. 

The impression of tax increases was ruled out when the CEO notified about the huge disparities in the taxes of the same-sized houses. 

These disparities are calculated to have caused around 39.2 million annual losses to the cantonment board. The average property tax that the board collects was estimated to be around 65.0 million. This year it was raised around 104 million last year. 

The officials said that the cantonment board would issue assessment notices in the past based on the 64 (a) of the cantonment acts 1924. Since these assessments include the cost of land, these assessments used to be on a much higher side. 

The people had to visit the office time and time again where their case would be presented before the assessment committee. Without any legal supervision, the committee would reduce the assessment from for example 90,000 to 11,000. 

Now that the procedure will be revisited tax on similar unit properties will add up to make for the disparities in several areas as claimed by the Abbottabad authorities. 

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