Revised property tax to come into effect from April 1

Revised property tax to come into effect from April 1

Submitted by alvin on Thu, 2016-03-31 20:11 Bengaluru: After eight long years, the BBMP has hiked property tax which will come into effect from tomorrow – April 1. There has been a 20 per cent hike on residential buildings and 25 per cent more on commercial buildings.BBMP Commissioner G Kumar Naik said as per the rules, the tax need to be revised once in three years but it did not happen all these years. However, even after eight years, the BBMP is now confident of collecting good amount of revenue in the form of tax.The city has been divided into six zones – owners who own land worth Rs 7,000 per sqft and above is categorised as A zone, Rs 5,000 and above fall into B zone, Rs 3,500 and above in C zone, Rs 2001 to Rs 3,000 as D zone, Rs 1,001 to Rs 2,000 as E zone and Rs 1,001 to Rs 2,000 as F zone.”"We have made arrangements at 170 branches of Canara Bank in the city to pay property tax. The property tax has to be paid in cash or DD to get the receipt immediately. However, Palike is encouraging property owners to pay tax online. Last year, the property tax worth Rs 200 crore was paid through online. We expect to collect Rs 1,000 crore property tax online this year,'' Naik said.The commissioner further said that property owners who pay on or before April 31 will get five per cent rebate on tax.To help tax payers, the BBMP has set up helpline 080 22660000 and has also deputed staff to manage the helpline from 6 am to 10 pm for two to three months.