FBR hikes property valuation in Karachi for 2024

Karachi’s new valuation rates mark a notable increase as FBR continues its periodic updates, previously last revised in 2022
A representational image. — Freepik
A representational image. — Freepik

The Federal Board of Revenue (FBR) has raised property valuation rates across Karachi and 55 other cities, effective from November 1, to improve tax collection and guide investments towards productive sectors.

This revision includes adjustments in property rates based on factors like type and location, impacting federal taxes such as capital gains tax and withholding tax.

Read more: FBR revises property valuation rates in 56 cities

Karachi’s new valuation rates mark a notable increase as FBR continues its periodic updates, previously last revised in 2022.

Let’s take a look at the full details of these changes (also available on the FBR’s official website).