Subject to the provisions of this Act, on and from the 1st day of August 1974, the special assessment on agricultural land payable by a holder shall be increased at the following rate, that is to say :-
Where the amount of special assessment payable Rate of increase ( a ) does not exceed Rs. 200 .. Nil. (b) exceeds Rs. 200 but does not exceed Rs. 500 ; .. 25 per centum of such amount as is in excess of Rs. 200 ; ( c ) exceeds Rs. 500 but does not exceed Rs. 1,000 ; .. Rs. 75 plus 50 per centum of such amount as is in excess of Rs. 500 ; ( d ) exceeds Rs. 1,000 but does not exceedRs. 2,000 ; .. Rs. 325 plus 1000 per centum of such amount as is in excess of Rs. 1,000 ; ( e ) exceeds Rs. 2,000 .. Rs. 1,325 plus 150 per centum of such amount as is in excess of Rs. 2,000.