AMC Act 102Chapter V · Chapter IX

Section 102 · Determination of annual valuation

(1)

Notwithstanding anything contained in the West Bengal Premises Tenancy Act, 1956 or in any other law for the time being in force, for the purpose of assessment of the [property tax] [Words substituted by W.B. Act 17 of 1995.], the annual value of a holding comprising land and building shall be deemed to be the gross annual rent including service charges if any, at which such land or building might at the time of assessment be reasonably expected to let from year to year, less an allowance of [ten per cent] [Words substituted by W.B. Act 17 of 1995.] for the cost of repairs and other expenses necessary to maintain such land or building in a state to command such gross rent.

(2)

The annual value of a holding comprising vacant land only shall be deemed to be an amount [which may be equal to, but may not exceed,] [Words substituted by W.B. Act 17 of 1995.] five per cent of the estimated market value of the land at the time of assessment.

(3)

If the gross annual rent of any class or classes of lands or buildings cannot be easily estimated, the annual value of a holding comprising such land or building shall be deemed to be an amount which may be equal to but may not exceed seven and a half per cent of the value of the holding obtained by adding the estimated cost of erecting the building at the time of assessment less a reasonable amount to be deducted on account of depreciation, if any, to the estimated present market value of the land [compromised in the holding] [Words substituted by W.B. Act 17 of 1995.].

(4)

The estimated cost of erecting a building shall not, for the purpose of determination of annual value, include the cost of any plant or machinery (excepting those enumerated in Schedule V) on the land or the building as aforesaid. [* * * *] [Sub-section (5) omitted by W.B. Act 17 of 1995.].

(6)

The annual value as determined under this Chapter shall be rounded off to the nearest ten rupees.

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