Property Tax in J&K ; Cause of concern for the Poor

Property Tax in J&K ; Cause of concern for the Poor

The decision to impose property tax in Jammu and Kashmir from April 1, 2023 has caused considerable anxiety and concern among the people, especially the poor and middle-class citizens. The move has been met with opposition on social media, with many arguing that the poor should not be burdened with extra taxes. Under the new tax regulations, people will be required to pay 5% of the taxable annual value on residential properties and 6% on non-residential properties.

The decision to impose property tax will undoubtedly affect the poor and middle-class citizens who are already grappling with the high cost of living, including education expenses for their children. For them, every penny counts, and the additional financial burden of this tax could leave them struggling to make ends meet.

The poor, who have been striving hard to secure their future by saving for a rainy day, will now find themselves having to bear the brunt of this tax. For many, owning a house is a means of security and an asset for their family. The imposition of a property tax will now turn this asset into a liability, creating further financial pressure on already struggling families.

The government's decision to impose a property tax may have been made to raise funds for public welfare programs, but the burden should not fall solely on the poor. The tax should have been levied on the luxurious properties and those with high-income households that can afford it. This would have been a more just and fair way to raise revenue for the government without putting additional financial pressure on low-income households.

It is important to note that the poor have been adversely affected by the pandemic, with many losing their jobs and struggling to make ends meet. The imposition of this tax is, therefore, a further blow to their already precarious financial situation. It is vital for the government to come up with easy policies that will help uplift the poor, instead of imposing taxes that will further burden them.

The decision to impose property tax in Jammu and Kashmir needs to be reconsidered. While the government has its reasons for imposing the tax, the impact on the poor needs to be taken into account. A more just and equitable way of raising revenue should be found, rather than placing the burden solely on low-income households. The welfare of the people should always be the government's top priority, and imposing taxes that only add to their hardship is not the way to go.