Tax on deficits of parking spaces in non-residential buildings.

(1) The Municipality may, by regulations, levy a tax on the deficits in the provision for parking spaces required for different types of vehicles in any non-residential building. (2) The amount of tax shall be determined by multiplying the quantum of such deficit in the area of parking spaces by the unit area value of land in the case of open parking spaces or by the unit area value of covered space of a building in the case of covered parking spaces, as the case may be, as specified in section 103.