JMC commissioner sensitizes market associations, traders on property tax in J&K

Jammu, Mar 5 (PTI) Jammu Municipal Corporation (JMC) Commissioner Rahul Yadav held a series of interactions with different market associations and traders to sensitize them about property tax, an official said on Sunday.

The meetings over the past week were held with office bearers of different trade bodies, including president of Ware House Traders Association Deepak Gupta, the official said.

Addressing the meetings, the JMC commissioner apprised the traders and market associations that property tax announced by the government is intended for strengthening municipal finances and will benefit common people in terms of better service delivery.

“Property tax is one of the essential pillars of municipal financing across the world. It is being levied by municipalities to augment their resources,” Yadav said.

With poor finances, he said the Urban Local Bodies across Jammu and Kashmir were not able to deliver to their fullest.

“The tax rates are one of the lowest in the country and residential houses up to a built-up area of 1000 square feet have been exempted. All places of worship are also exempt from payment of property tax,” the JMC commissioner said, seeking cooperation of the people in this regard.

The official said concerns and doubts of representatives of different associations were also addressed in the meeting, and their suggestions were taken.