The Finance Minister reported to the House today that the Ministry of Finance is reviewing tax concession measures for development-restricted areas surrounding the Local Area Plans (LAPs) in Bumthang Dzongkhag. The Minister informed that under the existing Property Tax Act, plots located within designated “no-development” zones in urban centres are eligible for a 90 percent tax concession. However, the provision currently does not apply to rural areas. In the case of Bumthang, the Ministry has directed the Dzongkhag Administration, in coordination with the Department of Human Settlement, to identify and confirm precincts and planning boundaries. Once the areas are formally designated as development-restricted zones, eligible plots will receive the 90 percent concession in accordance with the Property Tax Act.