FBR Adjusts Official Property Rates Across 56 Cities in Pakistan, Meeting IMF Agreement
The Federal Board of Revenue (FBR) has issued a new directive updating property valuation rates in 56 cities, fulfilling an ongoing commitment to the International Monetary Fund (IMF).
Starting November 1, property rates will rise by up to five percent in 45 cities, bringing valuations closer to approximately 80 percent of current market prices. However, major cities such as Karachi, Lahore, Rawalpindi, Islamabad, and Multan will retain their previous rates, as will Quetta, Gwadar, Bahawalpur, Lasbela, Rahim Yar Khan, and Sargodha.
Other cities, including Peshawar, Abbottabad, Faisalabad, and Gujarat, will see revised rates, alongside towns like Attock, Haripur, Hyderabad, Wazirabad, Sahiwal, and Gujranwala. Additional rate changes apply to Bahawalnagar, Bannu, Bhakkar, Chakwal, Chiniot, Dera Ismail Khan, and Dera Ghazi Khan.
Updated property rates have also been issued for Murree, Ghoda Gali, Jhang, Ghotki, Jhelum, Kasur, Kohat, Khushab, Hafizabad, Kotli Sattian, Larkana, and Lodhran. Further changes extend to Wazirabad, Sheikhupura, Sialkot, Sukkur, Talagang, and Toba Tek Singh, as well as Whari, Mandi Bahauddin, Mansehra, Mardan, Mianwali, Mirpur Khas, Nankana Sahib, Narowal, and Nowshera.
This FBR adjustment aims to increase tax revenue while aligning with international financial responsibilities.
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