Amendment status not verified — confirm the current text below against the official source.
Determination of rate of tax on holdings :– Subject to the provisions of 1[Sections 132 to 135] the Municipality at a meeting to be held before the close of the year next preceding the year to which any tax which is assessed on the annual value of holdings will apply, shall determine the percentage on the valuation of holdings at which the tax shall be, levied and the percentage so fixed, shall remain in force until the order of the municipality determining such percentage shall be rescinded and until the municipality at a meeting shall determine some other percentage on the valuation of holdings at which the tax will be levied from the beginning of the next year: 3[Provided that– (a) where the Municipality fails to determine such percentage on the valuation of holdings at which the tax shall be levied, the maximum percentage on