The Federal Board of Revenue (FBR) has decided to issue new property rates.
According to sources, this time rates will be issued for 54 cities instead of 42 across the country. The FBR has stated that the reassessment of property prices in various cities has been completed, and the new property valuations will be much closer to market rates. The FBR rates will be reduced in cities of Balochistan, while new rates will be issued for all major cities, including Karachi, Lahore, Islamabad, and Peshawar.
The new property valuation table may be released this week after confirmation from the Ministry of Law, aimed at increasing tax revenues from properties. The property valuation will include Bhakkar, Charsadda, Chiniot, Khanewal, Khushab, Mianwali, Sibi, and Swabi.