“216-A. Classification of lands and buildings and determination of unit area values.
(1) The Board of councillors shall, on the recommendation of the State Property Tax Board or the State Government as the case may be, and having regard to –
(a) the location of lands and buildings in the municipal area concerning its access to public roads;
(b) the location of lands and buildings in the municipal area with access to water, sewerage, and other civic facilities, and adjacent to markets, schools, hospitals, and any other facilities that influence the standard of living in that area;
declare its intention to classify lands and buildings in each ward - 10 -Ex-391/2015 of the Municipality into such groups or units as the Board of Councillors may specify by a public noticed, and shall also specify in such public notice the annual value it proposes to fix per unit area of covered space of buildings within each such group or units.
Explanation I - For the purpose of this Act, the State Property Tax Board means the State Property Tax Board constituted by the State Government from time to time.
(2) If any owner or occupier of any land or building in any ward in respect of which a public notice has been issued under sub-section
(1), has any objection to the manner of classification of any group/ unit or groups/units or the value per unit area of vacant land or the value per unit area of covered space of building in any such group, he may submit to an officer of the Municipality duly authorised by the Municipality in this behalf, his objection in such Form, and containing such particulars, as may be prescribed, within sixty days from the date of publication of such public notice, and such objection shall be considered by the Board of Councillors.
(3) On the expiry of sixty days from the date of publication of the public notice under sub-section (1), and after considering the objections, if any, the Board of Councillors, shall by a public notice, specify group wise the value per unit area of covered space of building.
(4) The unit area value of vacant land and the unit area value of covered space of building, as may be specified under sub-section (1), in respect of a group/unit in any ward shall remain in force for a period of five years and shall be revised at the expiration of each such period of five years:Provided that till the revision of such unit area values is completed, the existing unit area values shall continue to be in force.
216-B. Mult iplica tive factors to determine annual p roper ty values.Multiplicative factors to determine annual property value as specified in sub-section (2) of Section 216 would include,
(a) Location Factors, where the property abutted by categories of road or areas other than roads;
(b) Structure factor, the category of construction of the property;
(c) Ownership and Usage Factor, the category of owning and purpose of using the property; and
(d) Age factor, considering the year of completion of construction of the property;
Provided that the above factors would be as per the provisions of this Act and Rules framed thereunder by the State Government for the purpose and further as would be adopted by the Board of Councillors.”