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The tax is payable by the owner of that commercial building. How much am I supposed to pay?
AN ILLUSTRATION ON ASSESSMENT OF PROPERTY TAX
If a building earns Shs100,000 per month
100,000 X 12 = 1, 200, 000
Reduce by 22% meant for maintenance of the commercial building
1,200,000 X 22% = 264,000
936,000/= Ratable value
Tax at e.g. 8%
936,000 X 8% = 74,800/=
Compare the tax of shs74, 800 that is deducted from Shs1, 200,000 generated by the owner of the building in a year.
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