This PPT delivered in Webinar to E&Y Team takes stock of theory and various basis of property tax, its status in indian municipal finance, issues associated with it and what reforms need to be undertaken to improve property tax revenue by Indian Municipal Bodies.
The document discusses various aspects of property tax systems. It covers different methods of property valuation used for tax assessment, including the rental value base, capital value system, and area-based systems. It notes the shortcomings of the rental value system commonly used in India and recommendations for reform, including moving to alternative valuation methods and improving tax administration procedures. Key goals of property tax reforms are outlined as increasing revenues, improving equity and transparency, and reducing compliance costs. Case studies from India are also briefly mentioned.
The document discusses property tax reform in Bangalore, India. It begins with an introduction to Bangalore and its history. It then discusses the existing property tax system, which classifies properties, assesses taxes based on zones, and bills taxpayers twice a year. The reform introduced a self-assessment scheme that calculates tax through a two-line formula based on location, built-up area, rental rates, and depreciation. Officials took steps to market the reform through brochures, meetings, and media to gain public acceptance. The benefits of the new zone-based system included annual revaluation and property movement between zones over time.
RERA will transform the real estate sector by increasing transparency and accountability. In the short term, real estate launches may decline as developers work to comply with new RERA and GST regulations. Prices may initially rise as unsold inventory is cleared, and supply will shrink as only compliant developers launch new projects. However, builders will adapt over time by launching projects in phases to avoid penalties and incorporating additional costs into prices. Overall, RERA will establish standards that improve consumer protection and confidence in the industry.
This document discusses land acquisition policies and processes in India. It provides an overview of the Land Acquisition Act of 1894 and issues with it, including low compensation amounts and lack of rehabilitation provisions. It also discusses the proposed Land Acquisition, Rehabilitation and Resettlement Bill of 2011, which aims to address these issues by providing greater consent requirements, return of unused land, sharing of land appreciation, and stronger rehabilitation and resettlement provisions. The document also compares land acquisition processes internationally and provides recommendations for India such as acquiring surplus land, distributing development stocks/options to landowners, and establishing a more liberal and competitive framework.
What is property tax in India? How it is calculated? How property tax or house tax is different from the income tax that is generated from the property by way of renting it out? Find all these answers in this document.
A webinar conducted for the students and professionals who were interested in learning about Town Planning Scheme model of land management - self-sufficient tool famous with Gujarat State urban centres.
Know about "Housing for all scheme by the Government" from Pratik Chandiwal's presentation - Employee Engagement Activity in form of Live Webinar conducted by Amura for its employees.
The document discusses various aspects of property tax systems. It covers different methods of property valuation used for tax assessment, including the rental value base, capital value system, and area-based systems. It notes the shortcomings of the rental value system commonly used in India and recommendations for reform, including moving to alternative valuation methods and improving tax administration procedures. Key goals of property tax reforms are outlined as increasing revenues, improving equity and transparency, and reducing compliance costs. Case studies from India are also briefly mentioned.
The document discusses property tax reform in Bangalore, India. It begins with an introduction to Bangalore and its history. It then discusses the existing property tax system, which classifies properties, assesses taxes based on zones, and bills taxpayers twice a year. The reform introduced a self-assessment scheme that calculates tax through a two-line formula based on location, built-up area, rental rates, and depreciation. Officials took steps to market the reform through brochures, meetings, and media to gain public acceptance. The benefits of the new zone-based system included annual revaluation and property movement between zones over time.
RERA will transform the real estate sector by increasing transparency and accountability. In the short term, real estate launches may decline as developers work to comply with new RERA and GST regulations. Prices may initially rise as unsold inventory is cleared, and supply will shrink as only compliant developers launch new projects. However, builders will adapt over time by launching projects in phases to avoid penalties and incorporating additional costs into prices. Overall, RERA will establish standards that improve consumer protection and confidence in the industry.
This document discusses land acquisition policies and processes in India. It provides an overview of the Land Acquisition Act of 1894 and issues with it, including low compensation amounts and lack of rehabilitation provisions. It also discusses the proposed Land Acquisition, Rehabilitation and Resettlement Bill of 2011, which aims to address these issues by providing greater consent requirements, return of unused land, sharing of land appreciation, and stronger rehabilitation and resettlement provisions. The document also compares land acquisition processes internationally and provides recommendations for India such as acquiring surplus land, distributing development stocks/options to landowners, and establishing a more liberal and competitive framework.
What is property tax in India? How it is calculated? How property tax or house tax is different from the income tax that is generated from the property by way of renting it out? Find all these answers in this document.
A webinar conducted for the students and professionals who were interested in learning about Town Planning Scheme model of land management - self-sufficient tool famous with Gujarat State urban centres.
Know about "Housing for all scheme by the Government" from Pratik Chandiwal's presentation - Employee Engagement Activity in form of Live Webinar conducted by Amura for its employees.
National housing & habitat policy priyankPriyank Jain
The document summarizes the salient features of India's National Housing and Habitat Policy. It discusses key points such as:
- The goal of the policy is to provide affordable housing for all, with a focus on urban poor. It promotes public-private partnerships and involvement of various stakeholders.
- Important initiatives include the Jawaharlal Nehru National Urban Renewal Mission, Interest Subsidy Scheme for Housing the Urban Poor, and Affordable Housing in Partnership program.
- The policy emphasizes security of tenure, basic services and entitlements for scheduled castes, tribes, backward classes and minorities within urban poor communities.
- Moving forward, it recommends boosting social housing programs and
Housing and Poverty Alleviation Through Five Year Plans in IndiaJIT KUMAR GUPTA
During last more than seven decades of Independence from British Rule in 1947, India has been struggling to find solution to appropriate housing for the ever increasing pressure of population and rapid urban and rural migration. Stating with 1947, with more than 6 million people, under forced migration led by the division of India by creation of Pakistan as a separate nation, India has been grappling with finding appropriate solutions to the ever evolving, ever devolving problem of appropriate shelter for its ever rising population. With Five year plans dictating the national physical, social and economic growth agenda, attempt has been made to create housing and overcoming poverty through various schemes and programs launched through various Five year Plans by the respective governments, heading the Indian democratic structure. The contents, scope and approach of these program, policies and schemes have varied during various plan periods, depending upon the resources available, felt need of the community, priority for development, emerging problems facing the country etc. However, despite housing and poverty remaining a major issue, allocation of adequate resources allocated remained disproportionate to the need and requirement of the community. Based on the available data and the texts already written, attempt has been made to bring out various programs launched during the various plan periods, to showcase the approach adopted by India , as a nation, in meeting with its agenda of making accessible housing for all, managing poverty and reform agenda taken up in the urban context. Text also describes the agencies created for promoting planning, development, management and financing of shelter at the national, state and local levels.Indian journey during last more than seven decades makes an interesting reading with numerous lessons and learning, which remain valuable.
The document discusses urban land policies in India. It notes that the urban population is expected to rise to 40% by 2020, converting much agricultural land to urban uses. Large numbers of new urban residents lack access to adequately serviced land, resulting in unauthorized development. Land policies aim to secure land rights and access to land at reasonable prices to support housing development. The objectives of India's model urban land policy include increasing land supply, leveraging land for development, and protecting the interests of the poor. The case study of large-scale land policies in Delhi discusses tools used like land banking, leasehold delivery, and cross-subsidization, though the policies have failed to fully prevent unauthorized development.
Municipal Finances in India and Alternative Sources of Municipal FinanceRavikant Joshi
This PPT delivered to CEPT University Students provides detailed and latests information about municipal finances in India as of 2021 and discusses potential of alternative sources of finance for municipal bodies of India
The document discusses different types of developmental plans in India including national development plans, regional development plans, city development plans, zonal development plans, local area development plans, and sectoral development plans. It provides details on the purpose, contents, and functions of each type of plan. National development plans in India include five-year plans which aim to promote growth, employment, equity and justice. Regional development plans organize population, resources and infrastructure over a regional area.
Article tries to portray, definne, decipher and to bring out the status, pecularities, issues and roadblock in Rural Housing of India. Article also tries to define that rural housing remains different and distict from urban housing and has to be dealt on different footing in its planning , designing, construction, materials and technologies.. Rural housing remains simple, cost-effective, meeting individually and severally , multiple requirements of the rural setting. However, rural housing needs needs focussed attention of professionals looking at the local options and local materials/technologies. Rural housing offers enormous opportunities of innovations and experimenatation in housing sector,. based on the local knowledge, available wisdom, available materials and currently used technologies. Architects and Engineers need to redo their agenda to make value addition to rural housing which remains vital for Indian economy, living, nealth and hygiene besides tackeling the issue of global warming and increasing carbon footprints/minimising energy annd resource consumption..
This document is the Urban Land (Ceiling and Regulation) Act of 1976 which aims to impose a ceiling on vacant urban land, acquire land held in excess of the ceiling limit, regulate building construction on urban land, and bring about equitable distribution of urban land. It applies to several states that passed legislative resolutions allowing Parliament to regulate urban land issues. Key terms like "urban land", "urban agglomeration", and "ceiling limit" are also defined.
The document summarizes key aspects of the Land Acquisition Act of 2013 in India, which replaced the prior 1894 act. The 2013 act aims to ensure fair compensation, rehabilitation, and resettlement for those affected by land acquisition. It mandates consent from affected families for private and public-private projects, provides higher compensation rates, and entitlements like jobs, housing, and annuities for those rehabilitated. The act aims to improve transparency and social and economic outcomes for those losing land or livelihoods due to acquisition.
AFFORDABLE HOUSING POLICY, SCHEME AT VARIOUS LEVELS, ISSUES, HUBS,
APPROACH, PUSH-PULL FACTORS, CASE STUDIES
Follow on Instagram: @conceptive_architects
The document discusses structure planning and local plans. It provides details on:
1. What structure planning is and where structure plans should generally be prepared, such as areas experiencing rapid urban growth or redevelopment.
2. The content of structure plans, which includes a report and zoning plan delineating various land uses.
3. What local plans are in the UK context, how they are drawn up by local authorities, and the role of planning inspectors in examining local plans.
4. When stakeholders can get involved in local plan preparation, emphasizing involvement at the early evidence gathering stages.
5. Criticisms of planning such as it being slow, bureaucratic, and increasing costs to society.
The document discusses the history and types of development plans in India. It notes that India's planning processes were adopted from British legislation, with early master plans focusing on spatial distribution of land uses. However, master plans were criticized for being ineffective due to issues like lack of funding and monitoring. The Development Plan for Bombay in 1964 was more detailed and effective but led to unplanned peripheral growth. The document outlines different types of development plans used in India, including comprehensive, zonal, regional, and local area plans, with comprehensive development plans aiming to create productive and equitable cities through consultation and infrastructure investment planning.
This document discusses the issue of delays in formulating town planning schemes in Gujarat, India. It notes that out of 800 total town planning schemes in Gujarat, 350 are still pending state government approval. The presentation identifies several causes of delay, including the lengthy three-stage approval process, outdated land records, lack of staff and technical capacity at local authorities, and an inadequate review process concentrated at the state level. Experts suggest streamlining the approval process, limiting the state government's role, improving land records, and utilizing private sector expertise to help expedite the formulation of town planning schemes.
KERALA TOWN AND COUNTRY PLANNING ACT, 2016Tulika Kumar
The document outlines the Kerala Town and Country Planning Act of 2016 which aims to promote planned development and regulate growth in urban and rural areas through scientific spatial planning. It establishes various planning bodies like the State Town and Country Planning Board, District Planning Committees, Metropolitan Planning Committees, and local planning authorities, and mandates the preparation of perspective plans and execution plans at the state, district, and local levels to guide development. The act also provides these bodies with powers to implement plans, regulate land use, and prepare schemes to control development.
Land Acquisition Rehabilitation and Resettlement Act, 2013Gopal Agarwal
The document discusses India's Land Acquisition, Rehabilitation and Resettlement Act of 2013 and proposed amendments. It provides background on the original 1894 land acquisition law and need for reform. Key points of LARR 2013 included exemptions from consent requirements, levels of consent needed for public-private partnerships and private projects, and compensation rules. Proposed amendments in 2014 and 2015 aimed to address implementation issues with social impact assessments and consent clauses slowing projects. The document outlines debate around the proposals and suggests the party effectively communicate the need for farmers' alternative livelihoods through infrastructure development.
UAPVP launched many schemes available for different segments of the society including EWS, LIG, MIG, BPL and HIG categories.
UPAVP the development agency of Uttar Pradesh know as Uttar Pradesh Awas Vikas Parishad is going to implement the government housing mission, Pradhan Mantri Awas Yojana.
About 20,000 houses will be constructed in the state.
On the construction of housing units, the UPAVP will spend about Rs. 3,000 Crore and the implementation work will be started once it get the approval from the government.
The comprehensive plan for Fiscal year 2017-18 has been prepared by the agency and the houses units in these projects will be constructed under UP government Vrindavan & Awadh Vihar Yojana.
Under PMAY UP, about 2,000 houses have been registered by the government and creating further plan for the scheme, the UPAVP is planning to open the registrations for additional 3,000 houses.
The document summarizes key aspects of land acquisition laws and policies in India. It discusses the Land Acquisition Act of 1894, which allowed the government to acquire private land for public purposes with limited compensation. It then outlines the provisions of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (LARR), which established social impact assessments, consent requirements and increased compensation rates. Finally, it notes that the Modi government proposed amendments through an ordinance in 2015 to simplify the land acquisition process under LARR, but the ordinance lapsed due to protests claiming it was anti-farmer.
This document presents a perspective plan for urban and regional planning in Bhubaneswar-Cuttack, India from 2022-2030. It defines perspective planning as a long-term (20-30 year) plan that provides a policy framework for development. The plan components include an analysis of the existing characteristics, projected requirements, development strategies, future growth direction, and investment priorities. It aims to guide smaller plans and integrate spatial and economic initiatives. The plan covers social, economic, and spatial goals while minimizing environmental impacts. If implemented properly, it could help guide development and reduce poverty in the region over the next decade.
Evolution of planning legislation in india Parth Sadaria
The document discusses the evolution of planning legislation and practice in India from ancient times to the present. It outlines the development of various Town Planning and Improvement Acts from the late 19th/early 20th century under British rule through the enactment of model Town and Country Planning Acts in the 1960s. It also summarizes the key features and objectives of India's eight 5-Year Plans from 1951-1997, including priorities around industrialization, agriculture, poverty reduction, and social development.
The document provides information on key aspects of the Union Budget 2017 in India, including:
1. Key highlights of the budget such as abolition of FIPB, infrastructure status for affordable housing, listing of railway PSEs, village electrification target.
2. Economic survey outlook for 2016-17 and 2017-18, including GDP growth projections and impact of demonetization.
3. Proposed introduction of a Universal Basic Income scheme.
4. Sector-wise implications for agriculture, industry, labor laws, and external sector.
5. Details on direct taxes including income tax slabs, surcharge, capital gains, donations to political parties, and deductions.
1. The document analyzes tax collection challenges in Sindh province, Pakistan. It identifies key issues like lack of coordination between tax collection agencies, outdated tax laws, large informal sector, and automation difficulties.
2. It recommends desired reforms such as merging the three tax collection agencies, improving forecasting and audit capacity, automating land records, updating property valuation tables, and broadening the jurisdiction of revenue bodies.
3. The way forward is increased automation of tax processes while working towards a single integrated database, strengthened coordination between provinces on taxation, and engaging taxpayers to ensure a business-friendly environment.
National housing & habitat policy priyankPriyank Jain
The document summarizes the salient features of India's National Housing and Habitat Policy. It discusses key points such as:
- The goal of the policy is to provide affordable housing for all, with a focus on urban poor. It promotes public-private partnerships and involvement of various stakeholders.
- Important initiatives include the Jawaharlal Nehru National Urban Renewal Mission, Interest Subsidy Scheme for Housing the Urban Poor, and Affordable Housing in Partnership program.
- The policy emphasizes security of tenure, basic services and entitlements for scheduled castes, tribes, backward classes and minorities within urban poor communities.
- Moving forward, it recommends boosting social housing programs and
Housing and Poverty Alleviation Through Five Year Plans in IndiaJIT KUMAR GUPTA
During last more than seven decades of Independence from British Rule in 1947, India has been struggling to find solution to appropriate housing for the ever increasing pressure of population and rapid urban and rural migration. Stating with 1947, with more than 6 million people, under forced migration led by the division of India by creation of Pakistan as a separate nation, India has been grappling with finding appropriate solutions to the ever evolving, ever devolving problem of appropriate shelter for its ever rising population. With Five year plans dictating the national physical, social and economic growth agenda, attempt has been made to create housing and overcoming poverty through various schemes and programs launched through various Five year Plans by the respective governments, heading the Indian democratic structure. The contents, scope and approach of these program, policies and schemes have varied during various plan periods, depending upon the resources available, felt need of the community, priority for development, emerging problems facing the country etc. However, despite housing and poverty remaining a major issue, allocation of adequate resources allocated remained disproportionate to the need and requirement of the community. Based on the available data and the texts already written, attempt has been made to bring out various programs launched during the various plan periods, to showcase the approach adopted by India , as a nation, in meeting with its agenda of making accessible housing for all, managing poverty and reform agenda taken up in the urban context. Text also describes the agencies created for promoting planning, development, management and financing of shelter at the national, state and local levels.Indian journey during last more than seven decades makes an interesting reading with numerous lessons and learning, which remain valuable.
The document discusses urban land policies in India. It notes that the urban population is expected to rise to 40% by 2020, converting much agricultural land to urban uses. Large numbers of new urban residents lack access to adequately serviced land, resulting in unauthorized development. Land policies aim to secure land rights and access to land at reasonable prices to support housing development. The objectives of India's model urban land policy include increasing land supply, leveraging land for development, and protecting the interests of the poor. The case study of large-scale land policies in Delhi discusses tools used like land banking, leasehold delivery, and cross-subsidization, though the policies have failed to fully prevent unauthorized development.
Municipal Finances in India and Alternative Sources of Municipal FinanceRavikant Joshi
This PPT delivered to CEPT University Students provides detailed and latests information about municipal finances in India as of 2021 and discusses potential of alternative sources of finance for municipal bodies of India
The document discusses different types of developmental plans in India including national development plans, regional development plans, city development plans, zonal development plans, local area development plans, and sectoral development plans. It provides details on the purpose, contents, and functions of each type of plan. National development plans in India include five-year plans which aim to promote growth, employment, equity and justice. Regional development plans organize population, resources and infrastructure over a regional area.
Article tries to portray, definne, decipher and to bring out the status, pecularities, issues and roadblock in Rural Housing of India. Article also tries to define that rural housing remains different and distict from urban housing and has to be dealt on different footing in its planning , designing, construction, materials and technologies.. Rural housing remains simple, cost-effective, meeting individually and severally , multiple requirements of the rural setting. However, rural housing needs needs focussed attention of professionals looking at the local options and local materials/technologies. Rural housing offers enormous opportunities of innovations and experimenatation in housing sector,. based on the local knowledge, available wisdom, available materials and currently used technologies. Architects and Engineers need to redo their agenda to make value addition to rural housing which remains vital for Indian economy, living, nealth and hygiene besides tackeling the issue of global warming and increasing carbon footprints/minimising energy annd resource consumption..
This document is the Urban Land (Ceiling and Regulation) Act of 1976 which aims to impose a ceiling on vacant urban land, acquire land held in excess of the ceiling limit, regulate building construction on urban land, and bring about equitable distribution of urban land. It applies to several states that passed legislative resolutions allowing Parliament to regulate urban land issues. Key terms like "urban land", "urban agglomeration", and "ceiling limit" are also defined.
The document summarizes key aspects of the Land Acquisition Act of 2013 in India, which replaced the prior 1894 act. The 2013 act aims to ensure fair compensation, rehabilitation, and resettlement for those affected by land acquisition. It mandates consent from affected families for private and public-private projects, provides higher compensation rates, and entitlements like jobs, housing, and annuities for those rehabilitated. The act aims to improve transparency and social and economic outcomes for those losing land or livelihoods due to acquisition.
AFFORDABLE HOUSING POLICY, SCHEME AT VARIOUS LEVELS, ISSUES, HUBS,
APPROACH, PUSH-PULL FACTORS, CASE STUDIES
Follow on Instagram: @conceptive_architects
The document discusses structure planning and local plans. It provides details on:
1. What structure planning is and where structure plans should generally be prepared, such as areas experiencing rapid urban growth or redevelopment.
2. The content of structure plans, which includes a report and zoning plan delineating various land uses.
3. What local plans are in the UK context, how they are drawn up by local authorities, and the role of planning inspectors in examining local plans.
4. When stakeholders can get involved in local plan preparation, emphasizing involvement at the early evidence gathering stages.
5. Criticisms of planning such as it being slow, bureaucratic, and increasing costs to society.
The document discusses the history and types of development plans in India. It notes that India's planning processes were adopted from British legislation, with early master plans focusing on spatial distribution of land uses. However, master plans were criticized for being ineffective due to issues like lack of funding and monitoring. The Development Plan for Bombay in 1964 was more detailed and effective but led to unplanned peripheral growth. The document outlines different types of development plans used in India, including comprehensive, zonal, regional, and local area plans, with comprehensive development plans aiming to create productive and equitable cities through consultation and infrastructure investment planning.
This document discusses the issue of delays in formulating town planning schemes in Gujarat, India. It notes that out of 800 total town planning schemes in Gujarat, 350 are still pending state government approval. The presentation identifies several causes of delay, including the lengthy three-stage approval process, outdated land records, lack of staff and technical capacity at local authorities, and an inadequate review process concentrated at the state level. Experts suggest streamlining the approval process, limiting the state government's role, improving land records, and utilizing private sector expertise to help expedite the formulation of town planning schemes.
KERALA TOWN AND COUNTRY PLANNING ACT, 2016Tulika Kumar
The document outlines the Kerala Town and Country Planning Act of 2016 which aims to promote planned development and regulate growth in urban and rural areas through scientific spatial planning. It establishes various planning bodies like the State Town and Country Planning Board, District Planning Committees, Metropolitan Planning Committees, and local planning authorities, and mandates the preparation of perspective plans and execution plans at the state, district, and local levels to guide development. The act also provides these bodies with powers to implement plans, regulate land use, and prepare schemes to control development.
Land Acquisition Rehabilitation and Resettlement Act, 2013Gopal Agarwal
The document discusses India's Land Acquisition, Rehabilitation and Resettlement Act of 2013 and proposed amendments. It provides background on the original 1894 land acquisition law and need for reform. Key points of LARR 2013 included exemptions from consent requirements, levels of consent needed for public-private partnerships and private projects, and compensation rules. Proposed amendments in 2014 and 2015 aimed to address implementation issues with social impact assessments and consent clauses slowing projects. The document outlines debate around the proposals and suggests the party effectively communicate the need for farmers' alternative livelihoods through infrastructure development.
UAPVP launched many schemes available for different segments of the society including EWS, LIG, MIG, BPL and HIG categories.
UPAVP the development agency of Uttar Pradesh know as Uttar Pradesh Awas Vikas Parishad is going to implement the government housing mission, Pradhan Mantri Awas Yojana.
About 20,000 houses will be constructed in the state.
On the construction of housing units, the UPAVP will spend about Rs. 3,000 Crore and the implementation work will be started once it get the approval from the government.
The comprehensive plan for Fiscal year 2017-18 has been prepared by the agency and the houses units in these projects will be constructed under UP government Vrindavan & Awadh Vihar Yojana.
Under PMAY UP, about 2,000 houses have been registered by the government and creating further plan for the scheme, the UPAVP is planning to open the registrations for additional 3,000 houses.
The document summarizes key aspects of land acquisition laws and policies in India. It discusses the Land Acquisition Act of 1894, which allowed the government to acquire private land for public purposes with limited compensation. It then outlines the provisions of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (LARR), which established social impact assessments, consent requirements and increased compensation rates. Finally, it notes that the Modi government proposed amendments through an ordinance in 2015 to simplify the land acquisition process under LARR, but the ordinance lapsed due to protests claiming it was anti-farmer.
This document presents a perspective plan for urban and regional planning in Bhubaneswar-Cuttack, India from 2022-2030. It defines perspective planning as a long-term (20-30 year) plan that provides a policy framework for development. The plan components include an analysis of the existing characteristics, projected requirements, development strategies, future growth direction, and investment priorities. It aims to guide smaller plans and integrate spatial and economic initiatives. The plan covers social, economic, and spatial goals while minimizing environmental impacts. If implemented properly, it could help guide development and reduce poverty in the region over the next decade.
Evolution of planning legislation in india Parth Sadaria
The document discusses the evolution of planning legislation and practice in India from ancient times to the present. It outlines the development of various Town Planning and Improvement Acts from the late 19th/early 20th century under British rule through the enactment of model Town and Country Planning Acts in the 1960s. It also summarizes the key features and objectives of India's eight 5-Year Plans from 1951-1997, including priorities around industrialization, agriculture, poverty reduction, and social development.
The document provides information on key aspects of the Union Budget 2017 in India, including:
1. Key highlights of the budget such as abolition of FIPB, infrastructure status for affordable housing, listing of railway PSEs, village electrification target.
2. Economic survey outlook for 2016-17 and 2017-18, including GDP growth projections and impact of demonetization.
3. Proposed introduction of a Universal Basic Income scheme.
4. Sector-wise implications for agriculture, industry, labor laws, and external sector.
5. Details on direct taxes including income tax slabs, surcharge, capital gains, donations to political parties, and deductions.
1. The document analyzes tax collection challenges in Sindh province, Pakistan. It identifies key issues like lack of coordination between tax collection agencies, outdated tax laws, large informal sector, and automation difficulties.
2. It recommends desired reforms such as merging the three tax collection agencies, improving forecasting and audit capacity, automating land records, updating property valuation tables, and broadening the jurisdiction of revenue bodies.
3. The way forward is increased automation of tax processes while working towards a single integrated database, strengthened coordination between provinces on taxation, and engaging taxpayers to ensure a business-friendly environment.
Rose Wanjiru and Anne Wanyagathi present on the relationship between three county governments and the national government in the collection and administration of property taxes in Kenya.
The document discusses key aspects of implementing the Goods and Services Tax (GST) in India, including:
1) GST will be rolled out on April 1, 2017 and will replace multiple existing indirect taxes, creating a unified market.
2) Robust IT systems and business process changes will be needed for companies and tax authorities to adapt to GST.
3) Challenges include determining revenue shares, rates, exemptions, thresholds, and dual GST administration.
4) GST will be administered through a GST Council and IT systems developed by the GST Network, introducing reforms like unified registration, returns, and payments.
What's the distinction between property and wealth tax.pdfyamunaNMH
Both mobile and immovable asset classes are subject to taxes, which support government spending. It can be confusing to navigate India’s extensive tax system, particularly when attempting to discern between wealth tax and property tax. Despite their apparent similarity, the terms refer to different aspects of financial portfolios.
A quick guide to goods & services tax (GST)MD Hakim
GST is an indirect tax that will replace many indirect taxes in India. It aims to create a single market, reduce costs for businesses, and simplify tax compliance. The document provides details on key aspects of GST including the tax slabs, registration process, types of returns, and the roles of GSPs and ASPs who will provide support to taxpayers. GST is expected to boost economic growth and formalize more businesses and taxpayers in India.
Goods and service tax - GST- A detailed explanation with examplesShakir Shaikh
The document provides an overview of the Goods and Services Tax (GST) that was introduced in India in 2017. It explains that GST is a comprehensive indirect tax on the supply of goods and services that aims to replace multiple taxes levied by the central and state governments. The key aspects covered include the constitutional amendment needed to implement GST, the various tax components under GST, input tax credit provisions, tax rates, and exemptions. Examples are also provided to illustrate how tax calculations work under the GST framework for domestic and international transactions.
1. GST is an indirect tax that will combine multiple taxes into a single tax. It will have a dual structure with both central GST and state GST.
2. Under GST, tax will be collected at each point of sale with businesses able to claim credits for taxes paid on purchases. This will help reduce cascading of taxes and boost economic growth.
3. Compliance under GST will be primarily online with businesses required to file regular returns. Proper documentation of invoices and maintaining of records is important under GST.
VARIOUS FORMS OF INCOME TAX ,BASIC KNOWLEDGE OF GST PPT WHICH REQUIRED FOR A STUDENT TO UNDERSTAND DIRECT AND INDIRECT TAXATION.
STUDENTS STUDYING B.COM AND M.COM WILL BE BENEFITED .
This document discusses property tax implementation in Sierra Leone. It begins with a review of the current status of property taxation according to the law and in practice. Three systems are used - point-based, base-value, and adjusted area-based. It then outlines key challenges, such as a lack of administrative capacity and outdated valuation rolls. The document argues that improving property tax collection could generate more local revenue to fund public services. Ongoing reforms aim to address challenges by improving valuation processes and collection enforcement. A simulation shows that increasing collection rates and assessed values could significantly boost property taxes as a share of GDP.
The document provides an overview of the Goods and Services Tax (GST) implemented in India, including:
- The design and main features of the GST law, which unified several indirect taxes into a single tax system and established the GST Council to make recommendations.
- The administration of GST through the GST Network and technology infrastructure to facilitate electronic filing and payments.
- The estimated benefits of GST such as reducing the overall tax burden through removal of cascading taxes, increasing tax compliance, and creating a single national market.
The biggest ever indirect tax reforms to be implemented ever since 1947 is the GST bill. Execution of this bill is expected to bring economic integration of the Indian economy. Among the group that is highly overwhelmed with the introduction of this form of tax are the start-ups and SME’s. Expectations are that the organizations will benefit the most out of the GST implementation.
This document provides a standard presentation on the revised Model GST Law from November 2016 by the Indirect Taxes Committee of the Institute of Chartered Accountants of India. It begins with basic concepts of GST such as its objectives to usher in a single rate of tax and reduce the cascading effect of taxes. It then covers key components of GST including CGST, SGST and IGST. It explains the concepts of composite supply and mixed supply. Other sections cover the meaning and scope of supply, composition levy, taxable person, and exemptions.
This document provides an overview of the Goods and Services Tax (GST) in India. It discusses the key features of GST, including that it will combine multiple taxes into a single tax on goods and services, provide full tax credits, and follow a multi-rate structure. The document also reviews the journey towards implementing GST in India and compares GST structures in other countries.
This document summarizes research on improving property tax policy in Pakistan to support economic growth. Key findings include:
1) Property taxes in Punjab generate only 0.026% of GDP compared to 0.1-0.7% internationally, representing lost revenue of $70-649 million annually.
2) Punjab's property tax system has weak administration, outdated valuations, poor coverage of new areas, and many exemptions resulting in low collection.
3) Interviews and data from one district show property tax and local rates demand is low and flat despite rising property values.
4) The study will analyze policy options to broaden the tax base and compliance through simulation models.
This document provides an overview of the Goods and Services Tax (GST) in India. It defines GST and explains that it is a comprehensive tax on the manufacture, sale, and consumption of goods and services. It also describes how GST will operate across states, the registration process, tax rates, items that may or may not be included, and benefits and challenges of implementing GST in India.
Goods and services tax in nutshell ,possibility and problemsPrashant Arsul
It is a destination based tax on consumption of goods and services
It is levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff.
only value addition will be taxed and burden of tax is to be borne by the final consumer
The summary is:
The Indonesian government has launched a Voluntary Tax Disclosure Program (PPS) from January to June 2022 to allow taxpayers to disclose previously unreported tax obligations. The PPS has two conditions - condition 1 is for those who participated in the 2016 tax amnesty but did not report all assets, while condition 2 is for individual taxpayers with unreported assets from 2016-2020. The PPS allows disclosure of assets in exchange for payment of final income tax rates ranging from 6-18% depending on the type of assets and conditions. The government has also increased individual income tax rates and VAT this year as part of tax reforms.
Municipal Accounting Reforms - Myths and Reality.pptRavikant Joshi
This presentation delivered to Accounts and Finance Officers of ULBs in Bangladesh at Dhaka discusses various Myths and Realities associated with Municipal Accounting Reforms
Municipal Accounting Reforms - Why? How? & A Case Study of IndiaRavikant Joshi
The document discusses municipal accounting reforms in India, including:
- It provides an introduction to municipal accounting reforms, which involve converting cash-based single-entry accounting systems to accrual-based double-entry systems and adopting international public sector accounting standards.
- Reforms are needed due to changing state-citizen relationships and demands for greater accountability, transparency and efficiency from citizens. They also help address changing models of financing urban development.
- India has pursued municipal accounting reforms over several decades, but implementation has been uneven, with only about 300 of over 4,000 municipalities fully adopting reformed systems. Barriers include lack of capacity and ownership at the local level.
Municipal Accounting Reforms - myths and realityRavikant Joshi
This presentation made at Workshop on Accrual Accounting for City Corporations /Urban Local Bodies CIRDAP Auditorium – Dhaka – 13th Feb 2013 discusses various myths and realities regarding municipal accounting reforms.
Performance Measurement for Local GovernmentsRavikant Joshi
This PPT was delivered Based on Local Government Financial Management Series- UN-HABITAT in 'Local Government Budgeting and Financial Management Course', December 16 - 20 2008 Khartoum, Sudan
Financing Capital Investment Planning (Capital Budget) of Local GovernmentRavikant Joshi
PPT presented in Training of Trainers Workshops on Strengthening The Financial Foundation of Local Government Based on Local Government Financial Management Series of UN-HABITAT during June 4- 15 2007 - Nadi, Fiji
Capital Investment Plan for Local GovernmentRavikant Joshi
PPT presented in Training of Trainers Workshops on Strengthening The Financial Foundation of Local Government Based on Local Government Financial Management Series of UN-HABITAT during June 4- 15 2007 - Nadi, Fiji
Financing Operating Budget of Local GovernmentRavikant Joshi
This document provides an overview of a training workshop on financing the operating budgets of local governments. It discusses key concepts related to financial policy making, citizen participation, evaluating financial conditions, operating budgets, asset management, and other topics. It also outlines the classification system for government revenues established by the International Monetary Fund. Various types of local government revenues are described, along with the goals, evaluation, and typical sources of revenues. Methods of short-term financing, cash budgeting, disbursement techniques, revenue surveys, sample policies, benefits and obstacles of cash management are also summarized.
The document provides an overview of operating budget concepts and processes for local governments. It discusses key relationships between operating budgets and other financial planning aspects such as capital investment plans, strategic planning, accounting, and more. The document also examines characteristics of effective operating budget systems and the roles and responsibilities of various actors such as citizens, governing bodies, department heads, and chief executive officers in the budget preparation and implementation process.
Evaluating Financial Condition of Local GovernmentsRavikant Joshi
PPT presented in Strengthening Training of Trainers Workshops on The Financial Foundation of Local Government Based on Local Government Financial Management Series of UN-HABITAT during June 4- 15 2007 - Nadi, Fiji
PPT presented in Strengthening Training of Trainers Workshops on The Financial Foundation of Local Government Based on Local Government Financial Management Series of UN-HABITAT during June 4- 15 2007 - Nadi, Fiji
Financial Policy Making for Local GovernmentRavikant Joshi
PPT presented in Strengthening Training of Trainers Workshops on The Financial Foundation of Local Government Based on Local Government Financial Management Series of UN-HABITAT during June 4- 15 2007 - Nadi, Fiji
Accounting Concepts, Theory - IntroductionRavikant Joshi
This document provides an overview of accounting theory and practices. It discusses key accounting concepts such as principles, elements, and doctrines. It also describes accounting systems, the accounting cycle, branches of accounting, and accounting standards authorities. The main topics covered include the definition of accounting, accounting elements like assets and liabilities, concepts like separate entity and matching principles, and the basic accounting equation.
This PPT delivered in a Course on Fiscal Decentralization – Organised by World Bank Institute at Khartoum - Sudan from December 14-18, 2008 provides principles of revnue assignment from national governments to sub and sub-sub national governments
This PPT delivered in Virtual Symposium on Municipal Councils in the G 20 Countries organised as a part of G 20 meeting in Doha Katar outlines briefly broad treands in Municipal Finances in India.
Smart City Mission’s Financial Implications on Municipal Budgets Ravikant Joshi
This PPT delivered in Workshop on Interrogating Governance and Financial Implications of ‘Smart Cities’ organised by Environmental Support Group Trust (ESG) & Centre for Financial Accountability (CFA) outlines financial implications of SCM on Municipal Budget and Finances of Smart Cities
Financial Performance Indicators for Municipal BodiesRavikant Joshi
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Financial Analysis, Financial Forecasting for Municipal Bodies Ravikant Joshi
This PPT to Students of Nirma University explaints various financial analysis and forecasting tools and techniques which can be used for municipal financial management.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
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FT author
Amanda Chu
US Energy Reporter
PREMIUM
June 20 2024
Good morning and welcome back to Energy Source, coming to you from New York, where the city swelters in its first heatwave of the season.
Nearly 80 million people were under alerts in the US north-east and midwest yesterday as temperatures in some municipalities reached record highs in a test to the country’s rickety power grid.
In other news, the Financial Times has a new Big Read this morning on Russia’s grip on nuclear power. Despite sanctions on its economy, the Kremlin continues to be an unrivalled exporter of nuclear power plants, building more than half of all reactors under construction globally. Read how Moscow is using these projects to wield global influence.
Today’s Energy Source dives into the latest Statistical Review of World Energy, the industry’s annual stocktake of global energy consumption. The report was published for more than 70 years by BP before it was passed over to the Energy Institute last year. The oil major remains a contributor.
Data Drill looks at a new analysis from the World Bank showing gas flaring is at a four-year high.
Thanks for reading,
Amanda
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New report offers sobering view of the energy transition
Every year the Statistical Review of World Energy offers a behemoth of data on the state of the global energy market. This year’s findings highlight the world’s insatiable demand for energy and the need to speed up the pace of decarbonisation.
Here are our four main takeaways from this year’s report:
Fossil fuel consumption — and emissions — are at record highs
Countries burnt record amounts of oil and coal last year, sending global fossil fuel consumption and emissions to all-time highs, the Energy Institute reported. Oil demand grew 2.6 per cent, surpassing 100mn barrels per day for the first time.
Meanwhile, the share of fossil fuels in the energy mix declined slightly by half a percentage point, but still made up more than 81 per cent of consumption.
Presentation by Julie Topoleski, CBO’s Director of Labor, Income Security, and Long-Term Analysis, at the 16th Annual Meeting of the OECD Working Party of Parliamentary Budget Officials and Independent Fiscal Institutions.
Presentation by Rebecca Sachs and Joshua Varcie, analysts in CBO’s Health Analysis Division, at the 13th Annual Conference of the American Society of Health Economists.
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2. Property Tax – Present Status
Study of Property Tax in 36 million plus cities (2007-08
data) for 13th CFC
◼ Rs. 486 per capita average; Mumbai Rs. 1334, Patana Rs. 25
per capita
◼ Properties paying tax to total properties – 56%; collection
efficiency – 37% of demand; Cities collected only 21 % of
their potential property tax
◼ Property tax revenue – 0.16 to 0.24 % of GDP much lower
compared to developing countries average of 0.6 % of GDP
and developed countries average of 2 % of GDP
Study conducted (2012-13 data) by the 14th CFC
indicated that highest per capita revenue from property
taxes was at Rs.1677 with a low of just Rs. 42.
Property Tax Potential Unexploited – Economic
Survey of India 2017-18
◼ Evidence from satellite data indicates that Bengaluru and
Jaipur collect only between 5% to 20% of their potential
property taxes.
3. Property Tax – present status
Property tax contributed about 60 per cent to municipal tax
revenue in India in 2017-18
Within OSR, Property taxes formed the major revenue head
with a 35% share but grew slower than Central and State
transfers at 13% CAGR during FY 11-18.
In GDP terms, property tax revenue hovered at 0.14-0.15%
of GDP.
Among the larger states, Maharashtra, Telangana and
Karnataka reported the highest property tax revenue relative
to their Gross State Domestic Product (GSDP) at 0.39%,
0.23% and 0.22% respectively.
Maharashtra and Gujarat report the highest realisation in
annual per capita terms at Rs. 1512 and Rs. 1911
respectively. (National avg. ~ Rs. 688).
4. Property tax – Present Status
4
As documented by Bahl et al (2008), in the 2000s this ratio was 0.6 per cent in developing
countries and 1.04 per cent in all countries.
India lags even developing country peers on property taxes ~ 0.15% of GDP and Rs. 688 per
capita p.a
Property tax ~ 37% of own revenue of ULBs in FY 18; Karnataka highest @ 68% of own revenue
Maharashtra, Gujarat and Karnataka ~ 60% of all India property tax revenue income of ULBs
0
200
400
600
800
1000
1200
1400
1600
Property tax - Rs per capita
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1.6
1.8
2
Property Tax revenue as percentage of
GDP (2017)
Source: OECD.sats and CRIS analysis Source: State of Municipal Finances in India, A Study Prepared for the
Fifteenth Finance Commission , 2019
5. Property Tax – present status
Analysis of Data of 20 ULBs shows -
◼ Property taxes accounted for 22% of
revenue income and mirror the trend in
OSR.
◼ However, inter-se variation in property tax
revenue per capita was sizeable even within
these relatively better-off cities.
◼ Pune had the highest property tax receipts
in per capita terms at Rs. 4325 in FY 18;
only 7 of the 20 cities reported a property
tax realisation higher than Rs. 1000 per
annum in FY 18.
6. Potential to expand revenues –
Property taxes
6
Aggregate property tax revenue @ 0.15% of GDP (or) ~ Rs. 30,000 crore
is abysmally low
◼ Tripling property taxes to 0.45% of GDP can yield an incremental Rs. 60,000 crore at current
prices and is an achievable target and should be an immediate priority, but remains a big
challenge
For instance,
◼ Despite Tamil Nadu’s Fifth State Finance Commission recommending an increase in property
taxes from 0.2% to 0.6% of GSDP in five years, there has been a roll back in tax increase
done in 2018
◼ In ULB in Karnataka, although the property tax fixation basis was changed to capital value,
property taxes continue to be fixed on the basis of 2010 Guideline values instead of the
prevalent Guideline or market values. CRIS analysis (illustration below) suggests that revision
to the 2018 Guideline value by itself could lead to doubling of property taxes
Illustration to assess PT potential
As per 2010 Cap
Value
As per 2018
guideline value
As per 2018 market
value
Market value (building) Rs. / sq. mt 6456 23,200 41426
Taxable capital value of land 137200 3,50,000
Taxable capital value of building 322800 11,60,000 2071300
Depreciation value of building 3228 1,31,788 252698.6
Taxable capital value of the building after depreciation 319572 10,28,212 1818601
Taxable capital value of land + building after depreciation 456772 13,78,212 1818601
Property tax Rs. 3090 10,061 13403
Upside potential - ~225% ~333%
7. Property Tax – Universal Local Tax
Most important autonomous revenue source
of local governments across the world
Can provide access to broad and expanding
tax base
Compare to indirect taxes and grants it
promotes broader efficiency aspects
Accounts for almost 100 per cent of tax
revenues in several developed countries
Degree of reliance varies; it is linked with
decentralisation and stronger tradition of local
governments
8. Property Tax - Concept
Unresolved issue – Is it a general or a
benefit tax?
◼ Both are one-sided positions
◼ Should have a land and service tax
component
Level of government collecting property
tax revenues differs worldwide
◼ Eastern European Countries – national govt
◼ Singapore – levied by national government
◼ Indonesia/India – by local governments
9. Property Tax - Concept
Bases and mechanism of the tax also
differ from country to country
◼ Singapore & India – ARV comparison
method
◼ Germany & France – Levy two taxes -
ARV gross rent but can use capital value
if rent info not available
◼ Brazil – market value of land and
improvements
10. Property Tax – Relevance
Most appropriate local tax…
◼ Satisfies theoretical requirements of a local tax -
immobility, non-exportation and non-redistributive
◼ Properties are a primary source of storing
accumulated wealth; hence, a clear indicator of
wealth
◼ Properties are visible and immobile, Property tax is
therefore unavoidable and easy to administer
◼ Space specific not subject to fluctuations
◼ Most appropriate tax for generating local revenues,
acceptable to people
And….
11. Property Tax - Relevance
◼ Provides realistic and stable revenue base
◼ Stimulates occupiers' interest in local
government
◼ Encourages fuller occupation of property
The worldwide movement to abolish
tax on entry of goods at the local level
is giving property tax a unique place
But in reality…
12. Property Tax - Weakening Factors…
Inappropriate property tax policy
Freezing of tax base due to rent
control mechanism to protect tenants
Widespread under-reporting of actual
rents for tax purposes
Subjective and non-transparent
practices of tax assessment
Generous exemptions
And…
13. Weakening Factors (continued)
Lack of indexation with inflation
Absence of transparent, organised real estate
market leads to high taxes on property
Inefficient tax administration
◼ Failure to bring all properties under tax net
◼ Failure to demand and recover tax from properties
under the net
◼ Absence of trained professional staff
◼ Weak enforcement mechanism, recovery and
penalty provisions
As a result…
14. Results of Weaknesses in Property Tax
Poor revenue growth or stagnant revenues
Loss of potential property tax due to low
assessed annual value to market rent ratio
(Bhal and Linn, 1992)
Wide scope for discretion and corruption
Gross disparities in property tax assessment
Inordinately high tax rates to compensate
for narrow base; this induces evasion and
creates distortions
15. Property Tax – Components
Tax Base – Relates more to political and
social processes and concerns
◼ Annual Rental Value
◼ Capital Value
◼ Area Base Standardisation
Tax Rate
◼ No one way to factor correct rate of tax
◼ Important to ascertain whether it is paying --- -
-- the cost or price of the service
-- acceptable to people at large
16. Property Tax – Components (contd)
Tax Coverage – The ratio of properties
covered under the tax to properties
liable to the tax
◼ Capturing new properties and alterations to
old properties
◼ Systematic coverage leads to buoyancy,
productivity and equity
◼ Traditionally done through field surveys
◼ In recent times, through GIS, IT and self-
assessment systems
17. Property Tax – Components (contd)
Tax Collection or Administration – Refers
to a system through which a tax is
implemented or actualised
◼ It is the other side of the coin
◼ It envisages or requires
Professionally qualified human resources,
an rational organisational structure,
Streamlined, simple administrative procedures,
collection and enforcement mechanisms,
recovery and penalty provisions and the like
18. Property Tax Bases - Introduction
Tax base should closely tie tax burden
to urban growth
Rental value reflects the value of the
property in its current use
Capital value reflects the market’s
expectation of its future use
Area Base Standardisation is a hybrid
system, an intermediate step towards
a capital value base
19. Rental Value Base
Since the beginning, property tax has used
the annual rental value (ARV) as a base
Derived from British system of taxing
rentals in a free market regime
ARV = Gross annual rent of land and
buildings at which they may reasonably be
expected to be let
Reasonableness not defined
No clear guidelines to capture market rent
20. Inadequacies of Rental Value Base
Subjectivity – Enormous discretion to
assessor, resulting in corruption
Failure to capture prevailing market
rent ensures no buoyancy
Low valuations of long tenancies
Stranglehold of Rent Control Laws
Perpetuation of inequity
21. Inadequacies of Rental Value Base (contd)
Absence of organised and transparent real
estate and rent market
Under-reporting of actual rents
Generous tax exemptions
Administrative inefficiencies
◼ Non-coverage of properties
◼ Narrow base resulting in high tax rate
◼ Non-collection of tax from properties covered
◼ Toothless enforcement mechanism
22. Area Base Standardisation
Devised to overcome inadequacies of rental
base property tax
Area Base Tax basically a presumptive
taxation of holdings in terms of their zonal
and structural characteristics
Implies classification of homogeneous land-
value zones in a city, and taxing land and
buildings in terms of factors such as
location, land use, type of construction and
age of building
23. Inadequacies of Area Base Standardisation
Lack of clarity on nature of the base – Is
it a presumptive rental value or capital
value or simply an annual value?
Lack of transparency on how the
multipliers, their relativities and their
various figures are calculated
Logic of multiplying the weight or
multiplier for one factor by that of
another is questionable
24. Inadequacies of Area Base Standardisation
Rigidity
◼ The basis for a revision is unclear
◼ Are multipliers to be treated as a given?
◼ Will a revision of the multipliers be put to
public test?
Inequity – Can create inequity
Hardship – Can result in astronomical
increase in property tax
25. Capital Value Base
Capital value based assessment is
applied on the current sale price of
a property
Worldwide movement to shift property
tax to capital value base
UK, Netherlands, Indonesia and
Thailand among countries that have
moved to capital value
26. Merits of Capital Value Base
Most revenue productive system
Free from stranglehold of rent
Land and buildings can be taxed
separately
Optimum use of land can be promoted
Brings in benefits of area base system
Equity and social concerns can be
better addressed
27. Issues Associated with Capital Value
Base
Main difficulty is widespread under-
reporting of property transactions
Real estate market not competitive and
organised
Involves considerable administrative
costs or at least one-time costs
Qualified professional valuers
Qualitative data base
28. Property Tax – Part III
Reforming Property Tax
Introduction
Difficulties
Property Tax Reform Options
Other Land-Based Revenue Options
29. Recommendations for a good
Property Tax Structure
Have a low rate, making it acceptable to the public at large
Minimise discretion and avoid arbitrariness in assessment
Make assessment & collection process transparent & simple
Ensure equity among classes of tax payers and property
owners by fixing the assessments in a uniform manner in
respect of similar buildings situated in the same locality and
used for similar purposes
Keep exemptions to the absolute minimum
Facilitate self-assessment of property tax by property
owners and occupiers
Evolve a specific method of levying property tax, and
Delink the provisions of the Rent Control Act from property
tax assessment.
30. Reforming Property Tax – Difficulties
Unpopularity – Property tax is one of
the most unpopular taxes
◼ Visible, unavoidable, direct and hurts
◼ High degree of subjectivity; no
transparency; tax payer does not know
how it is derived
◼ Based on accrued rather than realised
wealth; hence, does not take into account
ability to pay
◼ Viewed as benefit tax by citizens; high
level of dissatisfaction on service level
31. Reforming Property Tax – Difficulties
Presumptive tax – Does not increase
with price rise
Absence of transparent, free real
estate market
Irregular, inadequate revisions in
the past
Absence of database
Politically sensitive issue
32. Property Tax – Issues/Challenges
Inappropriate Property Tax Policy
Design (legal infirmities)
◼ Judicial ruling tying down the tax base to
the norms of standard rent
◼ Perverse incentives
Inappropriate Tax Structure
Inappropriate Tax Administration
(administrative infirmities)
◼ No periodic revision though law provides
◼ Poor coverage, exemptions, identification
◼ Lack of qualified valuers
33. Reforming Property Tax - Steps
Thorough analysis of existing system
Identifying constraints and opportunities
Appropriate reform strategy
Any reform strategy will have to be holistic
and address:
◼ Tax Base
◼ Tax Rate
◼ Tax Coverage
◼ Tax Collections
Political and social buy-in important
Policy and Legal Structural
Reforms
Administrative Reforms
34. Reforming Property Tax – Corrective
Measures on Rental Value Base
Delinking it from Rent Control Laws
Amendment of municipal laws
Standardisation of tax with norms for
determining annual rental value
Eliminating assessors’ discretionary
powers
Creation of a transparent real estate
and rent market and database
Improving tax administration
35. Reforming Property Tax - Adoption of
Area Based Standardisation System
◼ Logical bifurcation of city, different
properties under appropriate factors after
detailed study of city
◼ Use of infotech for mapping properties
◼ Involve public to evolve appropriate factors
◼ Should be backed by self-assessment
system
36. Reforming Property Tax - Adoption of
Capital Value Basis
◼ Availability of good property mapping data
◼ Existence of transparent and competitive real
estate market
◼ Low incidence of property tax
◼ Well-trained and professional tax assessors
and revenue officers
◼ Central Valuation Board manned by experts
◼ Adequate participation of people
37. Reforming Property Tax – Supportive Tax
Policy Reforms for all Bases
Property tax should be levied on occupiers with
concurrent liability of the owners
Repeal Urban Land Ceiling Acts
Reduce stamp duty
Remove barriers from other taxes like income tax
Set up Appellate Board or Tribunal and create strong
institutional framework
Tax powers should be devolved to local governments
by higher governments in such a way that tax
exports are minimised
38. Reforming Property Tax – Things to
be Remembered
Simplicity beyond a point leads to
distortion
Multiple dimensions of equity cannot be
built in any tax
39. Property Tax – Concept,
Issues, Bases and Reforms
Thank You