Time not ripe for imposition of property tax: KTA

Time not ripe for imposition of property tax: KTA
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Srinagar, Feb 25: Kashmir Traders Alliance (KTA) has called for the immediate repeal of the property tax, arguing that it will only make matters worse for Jammu and Kashmir residents who are already struggling financially as a result of COVID.

In a statement, President KTA, Aijaz Shahdhar stated that the time is not ripe for the imposition of property tax.

"There is financial distress in Kashmir, we are yet to recuperate from losses incurred during COVID. People are not in a position to pay property tax, therefore we demand that government should put in abeyance order regarding property tax," Shahdhar said.

The government believes that by enforcing a property tax, Municipal Bodies and Local Bodies will receive central assistance that they would otherwise lose due to the absence of a property tax. "We firmly believe that the places where this property tax is applicable are already established states or UTs, thus we cannot compare them to other surrounding states or UTs", he continued.

Shahdhar said, "If we compare the tax rates applicable in Chandigarh UT, this way we are comparing highly developed UT with our underdeveloped UT, even where the basic services which are required by common people are absent."

Meanwhile, KTA on behalf of the general public as well as the business community appealed J&K government to roll back property tax.

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