Levy of Urban Immovable Property tax

There shall, subject to the provisions of section 23, be levied and paid to the State Government a tax on buildings and lands, hereinafter called the " Urban Immovable Property tax " at such rate not exceeding seven per cent. of the annual Letting value of the buildings or lands in such area or areas as may be notified by the State Government in the Official Gazette: Provided that (1) such tax shall be levied and paid to the State Government at such rate not exceeding three and half per cent. of the annual letting value of the buildings or lands not exceeding such amount and in such area or areas as may be specified by the State Government by notification in the Official Gazette ] ; (2) that if any building consists of more than one tenement and