The functions of the Board shall be-
(a) to review the fiscal strength of various municipalities and assess the efficiency of different sources of revenue so as to enhance it and also to create new such sources;
(b) to enumerate, or cause to enumerate, all properties in the municipalities in the State and develop a data-base;
(c) to review the property and water tax and other revenue resource systems and suggest suitable basis for valuation of properties and rates of tax and non tax items of municipalities;
(d) to design and formulate transparent procedure for valuation of properties, inspection for their verification in municipalities;
(e) to undertake valuation or cause valuation of all properties in the Municipalities in the state including central, state or local body properties and exempted properties;
(f) to recommend modalities for periodic revision;
(g) to adjudicate property tax disputes;
(h) to ensure transparency in valuation process and facilitate disclosure of valuations for fair comparison;
(i) to publish the annual work plan in the official Gazette of the State Government;
(j) to give such advice on valuation of properties and enhancement of Municipal Revenue to Municipalities, as the State Government may, from time to time, require it to do or on the request of Municipalities by means of resolution ;
(k) to discharge such other functions in the field of user charges, resource generation and valuation therefore including development of expertise in valuation of land and building, as the State Government may, from time to time, require it to do or on the request of municipalities by means of resolution.