Chandigarh, May 8 -- Municipal commissioner Amit Kumar on Wednesday urged the city residents to pay property tax by May 31 to enjoy rebate of 10% on commercial and 20% on residential properties.

"The property tax rate on commercial and industrial properties has been revised from 3% to 5% of the Annual Rateable Value (ARV) and has only increased by two times on residential lands and buildings. At present, in Chandigarh, approximately 31,000 properties are assessed under commercial property tax, while around 1.08 lakh properties fall under residential property tax," Kumar said.

He said that residential property owners can avail a 20% rebate, while commercial property owners receive a 10% rebate by paying their property tax through any mod...