**Simply stated, 10.92 is the common factor for calculating annual value for all buildings. To arrive at Annual value of any building, multiply monthly rental value with 10.92.**
Method of fixing Annual Value for Land :( taken on lease or rent)
Monthly rental value ( as per agreement between lessor and leesee) x 12 = Annual Value
No depreciation is allowed for land
**For Vacant Land:**
The Council in its Resolution No.405/2009, dated 29.10.2009 has resolved to levy property tax for the vacant land at the following rates:
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