Islamabad, Pakistan: The Federal Board of Revenue (FBR) is set to significantly increase the values of immovable properties across Pakistan by up to 75%.
The FBR has finalized revised valuation tables for 42 major cities and is expected to issue the notifications on October 11. This is the first increase in property valuations since 2022.
The new valuations will separate commercial, industrial, and residential properties and bring property values closer to market rates. Business Recorder
The FBR has been under pressure from the Federal Tax Ombudsman (FTO) to revise property valuations. The FTO has warned the FBR of potential legal proceedings if the revised valuations are not issued by October 11.
The increase in property valuations will have implications for property taxes and other related transactions. Property owners should be aware of the revised valuations and adjust their financial planning accordingly.
