Taking a big decision, the Punjab government has increased the property tax on residential and commercial buildings by 5 percent.
A notification has also been issued in this regard. According to the orders issued, the new rates have come into effect from April 1, 2025. According to government officials, this increase has been made keeping in mind the reduction in revenue of municipal corporations and municipal councils at the urban level. Under the new tax rates, a 5 percent increase in property tax will be applicable on both residential and commercial properties. Government spokespersons say that although the government has increased the property tax, this tax in Punjab is much lower than in other states.