Property tax rate increases three times/AAA


Residents of Islamabad Capital Territory (CDA) has received three times more or AAA property tax against the bills received last year.
A resident has shown Reporters Diary that this year he has received a property tax of Rs 84000 against last year tax of Rs 26000.
The CDA board approved an increase of 60pc in property tax and even a bigger rise in conservancy charges.

Residents of Islamabad argued that property if not rented out is not a hen which will lay eggs. Besides, many residents are retired persons. There is no justification for even the property tax itself when water and conservancy is charged separately, especially in older sectors where little new work is done by the CDA.

The new generation does not know that investing in property in Islamabad before 1971 was an ultra risky proposition as Sheikh Mujib had made it known that the capital of Pakistan will be shifted to Dhaka.

Building houses was not cheap either as what the CDA acquired at the rate of Rs70 per kanal from original owners of this area was sold in the early 1960s to new allotees at 100 times that price per kanal.