The Federal Board of Revenue (FBR) has announced a substantial increase in property valuation rates for immovable properties across 56 cities, a move aimed at enhancing revenue collection and curbing property undervaluation. Starting November 1, 2024, property values will reflect 75% of actual market rates, ARY News reported.
Expanded Valuation Coverage and New Rates
Previously covering 42 cities, the new property valuation adjustment now includes 56 cities. The FBR’s updated valuation strategy aligns with World Bank recommendations to match property values closer to market levels. This measure is anticipated to streamline revenue collection while ensuring fair property valuation.
The rates cover different property categories, including:
- Commercial
- Industrial
- Residential
The official notification on these revised rates will be released after formal approval from the FBR chairman, with property values potentially rising by as much as 75% in some cases.
These recent FBR decisions represent a shift toward market-aligned valuations and improved fiscal efficiency, as the agency seeks to bolster revenue streams through fair property valuation practices and refined tax structures.
 has announced a substantial increase in property valuation rates for immovable properties across 56 cities, a move aimed at enhancing revenue collection and curbing property undervaluation. Starting November 1, 2024, property values will reflect 75% of actual market rates, ARY News reported.){kind=link}