Farm Land Tax - COMMUNISM AND Capitalism
Now, In my view the farm land used for cultivation, culture, so on has to adopt Capitalism and communism. The property tax has to be calculated on the volume of culture or area in case of direct farming that is the outer volume of the building + open space area.
Let's assume a Farm on a size of 1 acre where in 1/2 acre breeds fishes and the remaining 1/2 acre Farming activity is performed on the surface of the land.
The building is constructed with a surface area covering 220000 sq. For vertical farming or fish breeding.
Now, going forward all farm lands shall be taxed on open area and constructed area.
The tax for open area farming could be very minimal, for example 0.01 Rs.*=8=Rs. 8 per annum.
Open area farming or surface farming
1 acre - 5 acre @100 rs Per acre per year. - rs 100 to 500
6 acre - 10 acre @200 Rs Per acre per year. Rs. 600 to 120
11 acre - 20 acre @500 Rs Per acre per year. Rs. 5500 to 10000
21 acre - 40 acre @750 rs Per acre per year Rs. 15750 to 30000
41 acre - 80 acre @1000 rs Per acre per year Rs. 41000 to 80000
81 acre and above @1250 Rs Per acre per year. 101250
Non open area farming or culture
1000 - 20000 cu. Ft @0.1 rs Per cu ft of culture area per year. = Rs. 100 to 2000 Per annum
20001 - 40000 cu. Ft @0.125 rs Per cu ft of culture area per year. = Rs. 2500.125 to 5000 Per annum
40001 - 80000 cu. Ft @0.150 rs Per cu ft of culture area per year. = Rs. 6000.15 to 12000 Per annum
80001 - 160000 cu. Ft @0.175 rs Per cu ft of culture area per year. = Rs. 14,000.175 to 28,000 Per annum
160001 - 320000 cu. Ft @0.2 rs Per cu ft of culture area per year. = Rs. 32,000.2 to 64,000 Per annum
And so on...
This means the Bigger the farming area the tax rate increases as per the above slabs given as illustration. This generates enough revenue to the state Governments treasury account.
Hope state Government brings this change by necessary law or amendments.
What do we think or say about this idea?
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