Determination of rate of tax on holdings :- Subject to the provisions of

![Sections 132 to 135] the Municipality at a meeting to be held before the close of the year next preceding the year to which any tax which is assessed on the annual value of holdings will apply, shall determine the percentage on the valuation of holdings at which the tax shall be, levied and the percentage so fixed, shall remain in force until the order of the municipality determining such percentage shall be rescinded and until the municipality at a meeting shall determine some other percentage on the valuation of holdings at which the tax will be levied from the beginning of the next year:

[Provided that-

1. (a) where the Municipality fails to determine such percentage on the valuation of holdings at which the tax shall be levied, the maximum percentage on THE ORISSA MUNICIPAL ACT, 1950 5) the annual value of holdings as provided under this Act for the imposition of the tax shall be deemed to the percentage determined by the Municipalities; and
2. (b) when this Act is first extended to any place, the first tax may be levied from the beginning of the quarter next after that in which the percentage has been fixed by the Municipality.]

¹ Substituted by the Orissa Act 16 of 1968, w.e.f. 01.08.1968.

² Substituted by the Orissa Act 20 of 1968, w.e.f. 27.09.1968.

³ Substituted by the Orissa Act 11 of 1994, w.e.f. 31.05.1994