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Basic Terms Used in Property Tax: Garv

Property tax in Balochistan is based on the Annual Rental Value (ARV) of properties, with rates of 10% for ARV below Rs.13820 and 15% for ARV above that threshold. The ARV is calculated by deducting 10% maintenance charges from the Gross Annual Rental Value (GARV). Additionally, there is a tax exemption for owners of one self-occupied residential unit up to 2500 sq feet, requiring an annual application for exemption.

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57 views1 page

Basic Terms Used in Property Tax: Garv

Property tax in Balochistan is based on the Annual Rental Value (ARV) of properties, with rates of 10% for ARV below Rs.13820 and 15% for ARV above that threshold. The ARV is calculated by deducting 10% maintenance charges from the Gross Annual Rental Value (GARV). Additionally, there is a tax exemption for owners of one self-occupied residential unit up to 2500 sq feet, requiring an annual application for exemption.

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ahmad
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© © All Rights Reserved
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Property Tax

Basic Terms Used In Property Tax:


GARV: Gross Annual Rental Value: property unit which is rented. The gross annual rent
means annual rent of a property unit. For example
Property unit per month rent Rs.2000/- × 12 months= Rs.24000/-per year is called Gross
Annual Rental Value (GARV).

ARV: Annual Rental Value: Deduction of maintenance charges @ 10% from an annual rent of
a property unit. For example:
Property unit per year rent is Rs.24000/- minus 10%=Rs.2400/- is deducted from Gross
Annual Rented Value i.e, 24000 - 2400=Rs.21600/- is called Annual Rented Value.
On ARV Rs.21600/- property tax levy @ 15% i.e., Rs.3420/- is a property tax of a property
unit per year.
Property Tax in Balochistan is levied and collected on the basis of Annual Rental Values (ARV)
of Properties as per following detail:
Property units having Annual Rental Value (ARV) below Rs.13820/- property tax levied @ 10
% and Property units having ARV Rs.13820/- and above property tax levied @ 15 % .
ARV is determined after deduction of 10 % Maintenance Charges from Gross Annual Rental
Value (GARV).
In Quetta and Hub cities property tax levy on property units @ 10% to 15 % if ARV is greater or
less than Rs.13820/-.
In other cities of Balochistan property tax levy on property units @ 10% only.
The values of ARV are based on the reports of survey conducted by the staff responsible to
collect property tax after each five years.
They distribute a P.T.4 form. The filled P.T.4 forms are to be returned by owner / tenants on the
basis of self-assessment.
The owner / tenants then served with P.T.9. form which is a Notice of Demand. Subsequently
owner / tenants are sent Form P.T.10 which is a challan for payment of property tax.

PROPERTY TAX EXEMPTION:


A person having one self-occupied residential unit having covered area up to 2500/ sq feet is
exempted from property tax. However application for tax exemption would be submitted by the
owner on annual basis.

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