Power to levy and collect conversion

3[tax]- (1) With effect on and from the date of commencement of this Act, every owner or occupier of agriculture land shall have to pay a conversion

3[tax] for non-agricultural purposes, at the rate of

4[3%] of the basic value of the land in areas as may be notified by the Government from time to time.

5[Provided that the owner or occupier of agriculture land in the areas covered under

6[omitted], Greater Visakhapatnam Municipal Corporation and Vijayawada Municipal Corporation, shall have to pay a conversion tax for non- agricultural purposes, at the rate of

7[2%] of the basic value of the land].

1. (2) For the purpose of this section, the basic value of the land shall be fixed in such manner as may be prescribed.