PU Opposes Chandigarh Civic Body's Rs 25 Cr Property Tax Calculation

Panjab University (PU) has raised strong objections against the calculations used by the Chandigarh civic body to estimate a property tax of Rs 25 crore. The university argues that the valuation method employed by the civic body is arbitrary and does not accurately determine the correct tax liability. PU authorities have highlighted that the civic body assessed the commercial properties by applying outdated construction costs, which do not reflect the current market rates. This method has resulted in inaccurate evaluations and has led to an unreasonable burden on the university. PU contends that the civic body should employ fair and transparent methods to determine property taxes. The property tax calculation is based on several factors, including the property's size, location, and other specifications. However, PU claims that the civic body has disregarded these essential aspects and adopted a flawed evaluation. The university further asserts that numerous commercial properties owned by it have been wrongly classified, leading to an inflated tax liability. Moreover, the civic body's calculation methodology fails to consider certain exemptions and concessions that are provided to educational institutions. PU argues that the university deserves these exemptions since it is a non-profit organization dedicated to imparting education. PU authorities have approached the civic body with their objections, requesting a fair reassessment of property tax. They emphasize the need for an accurate valuation that takes into account the present market rates and applicable concessions. PU further asserts that it is ready to pay legitimate taxes based on a rightful and transparent calculation. This dispute between PU and the Chandigarh civic body is not the first of its kind. Universities and educational institutions have often faced challenges regarding property tax calculations, raising concerns about fairness and the financial burden imposed on educational establishments. It is crucial for such calculations to be based on updated and reasonable assessments, considering the specific exemptions applicable to educational institutions. In conclusion, Panjab University has firmly opposed the property tax calculation of Rs 25 crore by the Chandigarh civic body, citing arbitrary methods and erroneous evaluations. PU insists on a transparent and fair reassessment, considering current market rates and relevant exemptions. The resolution of this matter will have a significant impact on the future tax liabilities of universities and educational institutions. (Word count: 400)