LAHORE: The Punjab government has launched a new property tax system to make the process easier, remove complications, and ensure transparency.
According to Secretary Excise, Taxation and Anti-Narcotics, Masood Mukhtar, the new system took effect on January 1, 2025. Now, property taxes will be decided based on the DC rate of each district for all property types.
The big change is that property tax will no longer be calculated on rental value but on the capital value (the actual worth of the property). Property owners can now self-assess their property value, and their declared amount will be accepted for tax collection.
Masood Mukhtar explained, “This is the first major change in property tax in 65 years. It aims to make the system simple, uniform, and transparent. These reforms are for the benefit of the public, not to create an extra financial burden.”
Director General Excise and Taxation Punjab, Umar Sher Chattha, added that taxpayers will also get relief under the new system. Current taxpayers will not face any extra charges until June 30, 2025. Meanwhile, people joining the tax system for the first time will get up to 50% discount on their pending dues. New taxpayers will also pay only 25% of their total tax for the next six months.
These reforms highlight the government’s focus on making taxation easier, more transparent, and fair, while also supporting Punjab’s economic growth.
