FBR cuts notified property values in Rawalpindi

ISLAMABAD: The Federal Board of Revenue (FBR) has revised downward the notified values of certain immovable properties in Rawalpindi for tax purposes.

The FBR issued S.R.O. 1382(I)/2026 on August 17, 2026, amending S.R.O. 1728(I)/2024 under Section 68(4) of the Income Tax Ordinance, 2001.

Under the latest notification, the tax authority has corrected the per-square-foot rates for open plots listed against two specific entries in Column 6.

For Entry No. 6166, the notified value has been reduced from Rs8,542.5 per square foot to Rs7,353 per square foot.

The rate for Entry No. 6167 has been reduced more significantly, falling from Rs5,025.1 per square foot to Rs1,431 per square foot.

The revised rates will be used for determining the value of the properties covered by these entries for tax-related purposes.

FBR-notified property values are relevant to several tax matters, including property transactions, asset declarations, wealth statements and the assessment of capital gains tax.

The revision means taxpayers, property owners and registrars dealing with the specified properties will have to apply the updated values when calculating the relevant tax liabilities.

The FBR has clarified that the changes are limited to the entries specifically amended through the latest notification. Other notified property values under the existing framework will remain unaffected by this particular revision.

Tax experts say adjustments in notified values can help bring official valuations closer to prevailing market conditions and ensure more consistent application of tax rules.

Stakeholders involved in property transactions in the affected areas have been advised to consult the revised notification and use the updated rates when preparing property-related tax documents and declarations.

The latest move is expected to provide greater clarity for taxpayers and authorities dealing with the specified Rawalpindi properties.