State Act

Punjab Town Improvement Act 1922

4[50-B. Principles for calculating betterment contribution. - The better-ment contribution shall be in respect of each property according to the following principles:- (a) its market value on the date of the publication of the notification sanc-tioning the scheme shall be estimated without reference to the improve-ments and development contemplated in the scheme; (b) for each financial year succeeding the year in which the scheme takes ef-fect, its market value on the first day of April of that year shall be ascer-tained by the chairman; (c) if, in any financial year, the market value estimated under clause (b) does not exceed that estimated under clause (a), no betterment contribution shall be levied for that year; (d) if, in any financial year, the estimated market value under clause (b) ex-ceeds that estimated under clause (a), the trust shall levy a betterment contribution on the difference according to the percentage fixed in the scheme : Provided that in estimating the market value of land under clause (a) or under clause (b), the value of buildings or other works erected or in the course of erection on such land shall not be taken into consideration.]