Punjab governor and UT administrator Banwarilal Purohit has waived off 50% of the principal amount of property tax in the assessment year of 2019-2020 and 2020-2021 for economic weaker section (EWS) houses in the city.
Approval was also given to waive off 100% penalty amount of three financial years of 2019-2020, 2020-2021 and 2021-2022 of the EWS houses.
For commercial properties in EWS colonies, 100% penalty amount and arrears have been waived off. Owners will now have to pay the principal amount only. In case of commercial properties located in villages, 100% penalty and interest amount has been waived off. They will have to pay only the principal amount of 2020-2021 and 2021-2022 financial years.
The orders will be notified in a day or two.
The will benefit thousands of property owners of both residential and commercial properties in EWS colonies and villages.
“The decision was taken after studying property tax and assessing all financial and other angles. Based on consultation with senior officers of the administration and with the municipal corporation, and keeping all segments in the mind, the proposals were discussed with the administrator and green signal given,” sources revealed.