Amendment status not verified — confirm the current text below against the official source.
Components and rates of taxes on lands and buildings. - (1) Save as oth- erwise provided in this Act, Taxes on lands and buildings in the City shall consist of the following, namely :- (a) a water tax of such percentage of the rateable value of lands and buildings as the Governments may deem reasonable for providing water- supply in the City; (b) a fire tax on such percentage of the rateable value of lands and buildings as the Government may deem reasonable for the expense necessary for the 50 Punjab Municipal Corporation Act, 1976, Section 91 conduct and management of the Fire Service and for the protection of life and property in the case of the fire; (c) a general tax of not more than fifteen per cent of the rateable value of lands and buildings within the City : Provided that the general tax may be levied on a graduated scale, if the Gov- ernment determines. (2) The Government shall exempt from the general tax lands and buildings of which the rateable value does not exceed the prescribed limit. Section 92