Karachi: According to press reports, the Sindh government agreed on Tuesday to undertake a property survey in Karachi in order to expand the tax base by bringing in more individuals.
Property tax is now collected by the Sindh Excise and Taxation Department in six main cities in Sindh: Hyderabad, Shaheed Benazirabad, Mirpurkhas, Sukkur, Larkana, and Karachi. According to the report, property tax collections were Rs. 1.679 billion in fiscal year 2021 (FY-21), with PKR 1.52 billion coming from Karachi.
According to the information provided, the last survey in Karachi was performed in 2001. Karachi had around 800,000 properties registered at the time. There are now 947,424 registered properties. Property tax collection was assigned to the district administration during the previous survey, although it was still handled by the provincial taxation department.
In addition, an all-Karachi property survey will be undertaken in order to update the property tax database. Property records will be digitised when the property tax is collected, according to CM Murad. He went on to add that the property units may be worth up to two billion dollars. The chief minister has also decided to transfer property tax collection to KMCs and DMCs.