Lahore: The Punjab government is set to introduce a new property tax on residential properties measuring 5 marla and above. This initiative is part of a broader attempt to enhance provincial revenue through targeted tax measures on larger homes.

According to Zameen.Com, the Punjab Excise and Taxation Department has been tasked with compiling a comprehensive list of all residential properties in the province by October 2024. The upcoming property tax will be levied based on the assessed value of homes, specifically targeting those valued over PKR 50 lacs.

This tax proposal follows the recent implementation of a garbage tax across Punjab, affecting both residential and commercial properties. The garbage tax is structured variably: in rural areas, it ranges from PKR 20 to PKR 1,000, while in urban settings, the tax on a 5-marla residential property starts at PKR 300, escalating to PKR 5,000 for properties larger than 1 kanal.