It shall be essential for every agency to adopt a resolution by including the following points, within maximum six months from the date of commencement of each financial year -
(a) The determination of such rates of property tax which shall be payable on buildings/ lands.
(b) To fix the date within which the return and the payment of the amount of property tax by the owners of building or land shall be essential, provided that such date shall not be earlier to four months from the beginning of the year.
( c) Determination of general sanitation tax, general lightning tax and general fire tax.
121. Prevailing of the last year rates in case the resolution is n~t adopted - If in any year the agency does not adopt the resolution under the 222 (258) '1~ ~, ~ 14 i:rr:;:f 2016 provisions of rule 120, the owners of buildings/ lands shall in a interim way deposit the amount of the tax along with the return in accordance with rule 123 on the basis of the last year's rates and on the declaration of the rates for the current year the revised return along with the amount of difference, if any, shall be deposited.