Following sections of the City Corporation (Taxation) Rules, 1986 has the guidelines for assessment of a land/building :-

I. Taxes to be assessed on the annual value of building and lands. - Subject to the provisions of the Ordinance and these rules, the following taxes and rates shall be levied in terms of the percentage of the annual value of buildings and lands, namely :-

1. (a) tax on buildings and lands ;
2. (b) lighting rate;
3. (c) conservancy rate.

II. Preparation of a valuation list. -

(1) For the purpose of levy of any of the taxes or rates mentioned in rule 19, the City Corporation shall cause to be prepared a valuation list of all buildings within the City Corporation and such list shall be prepared by an assessor appointed for the purpose by the City Corporation.

(2) The assessor shall, after making such inquiries as may be necessary, determine the annual value of all buildings and lands within the City Corporation in the manner provided in these rules and shall enter such value in a valuation list.

(3) The manner of determining the annual value of building and lands shall be as follows :-

(a) For wholly let-out buildings. -

(i) The annual value shall be taken to be the gross annual rental minus two month's rent as maintenance allowance; and if the property is mortgaged to the Government, Bangladesh House Building Finance Corporation, scheduled bank or any other financial institution under registered instrument for securing funds for construction or purchase of the same, then the annual interest payable on account of such mortgage-debt shall also be deducted.

(ii) If the monthly rental of any building appears to be abnormally high or unusually low, the assessor, while determining annual value, may have regard to the rent at which buildings and lands of similar description and with similar advantages in the locality may be let-out.

(b) For wholly occupied buildings. -

The annual value shall be deemed to be the probable annual rent at which the buildings and lands of similar description and with similar advantages in the locality may be let out or at 7 percent of the value of the building on the date of assessment plus ground-rent for the land comprised in the building, whichever is less, minus the following :-

(i) two months rent, or one-sixth of the annual value, as the case may be, as maintenance allowance ;

(ii) 40 percent of the annual value after deduction of the amount mentioned in item

(iii) if the property is mortgaged to the Government, Bangladesh House Building Finance Corporation, scheduled bank or any other financial institution for securing funds for its construction or purchase of the same, then the annual interest payable on such mortgage-debt.

(c) For partly rented and partly occupied buildings. -

The annual value of the rented portion shall be calculated in the manner as specified in clause

(a) and that of the occupied portion as in clause

III. Preparation of valuation list. -

A new valuation list shall, unless otherwise ordered by the Government, be prepared in the manner specified in rule 20 once in every five years.

IV. Returns required for ascertaining annual value. -

The assessor may, in order to prepare the valuation list, by notice in Form A require the owner or occupier of a building or land to furnish him within one week with true and correct returns of the rent or annual value thereof in Form B and a true and correct description of the building containing such particulars as the assessor may direct, and the assessor may enter, inspect and measure any such building at any time between sun-rise and sun-set :
Provided that at least twenty-four hours previous notice of the intention to enter, inspect and measure any building shall be given to the occupier thereof unless he waives his right to such notice.

V. Preparation of assessment list. -

The City Corporation shall cause to be prepared an assessment list in Form C which shall contain the following particulars and any others which the City Corporation may think proper to include :-

(a) the name of the street in which the building or land is situated ;
(b) the number of the building or land on the register ;
(c) a description of the building or land ;
(d) the annual value of the building or land ;
(e) the name of the owner ;
(f) the amount of tax or rate payable for the year (each tax or rate to be shown separately) ;
(g) the amount of quarterly installment ; and
(h) if the building or land is exempted from assessment, a note to that effect.

VI. Publication of notice of assessment. -

(1) When the assessment list mentioned in rule 23 has been prepared, the Mayor or, in his absence, the Chief Executive Officer shall authenticate the same by putting his signature on each page and then shall cause it to be deposited in the office of the City Corporation and shall give public notice of the place where the list may be inspected.

(2) In all cases in which any property is, for the first time, assessed, or the assessment if altered under rule 7[26(1), the City Corporation shall also give notice thereof to the owner or occupier of the property if known :
Provided that when a general assessment is made, a notice thereof may be given by affixing a copy of the assessment list in the office of the City Corporation and at a prominent place in each ward and by announcing the fact in such other manner as it deems fit.

VII. Final list of assessment and its duration. - Every alteration made in the assessment list in pursuance of orders of an Assessment Review Board under rule 8[7(8)] or the orders of the Divisional Commissioner under rule 7(13), as the case may be, shall be signed by the Mayor or, in his absence, by the Chief Executive Officer of the City Corporation ; and the assessment list thus prepared shall be the final list of assessment and shall remain valid until a fresh list is prepared subject to any alteration or amendment under rule 26.

VIII. Amendment or alteration of list. -

(1) The City Corporation may, at a meting, at any time, direct alteration or amendment of the assessment list -

(a) by entering therein the name of any person or any property which, in their opinion, ought to have been entered, or any property which has become liable to taxation after the preparation of the final list under rules 25 ; or
(b) by substituting therein for the name of the owner of any building or land the name of nay other person who has succeeded by transfer or otherwise to the ownership of the building ; or
(c) by altering the valuation of or assessment on any building or land which, in their opinion, has been incorrectly valued or assessed ; or
(d) by re-valuing or re-assessing any building or land, the value of which has been increased by additions or alteration ; or
(e) by reducing, upon the application of the owner, the valuation of any building or land which has been wholly or partly demolished or destroyed or the value of which has been diminished ; or
(f) by correcting any clerical or arithmetical error. (2) The City Corporation shall give at least one month's notice to any person for any alteration which they propose to make under clauses (a), (b), (c), (d) or (f) of sub-rule (1) and of the date on which the person shall be heard.
(3) The provisions of rules 7, 25 and 27 shall apply mutatis mutandis to any objection made in pursuance of a notice issued under sub-rule (2) and to any application made under clause (e) of sub-rule (1).

IX. Increase of amount of assessment of a building or land. -

If a City Corporation is satisfied that the rent of a building or portion thereof or land has been increased after the publication of the final assessment list to such extent that, in the opinion of the City Corporation, it justifies the re-valuation of the building, it may, notwithstanding anything contained in these rules and after giving the owner an opportunity of being heard, direct the amendment of the assessment list by increasing the assessment on such building.