• Mon. Apr 22nd, 2024

Considering growing demand, State government has extended the Early Bird Incentive to commercial properties along with the residential properties providing five per cent rebate on payment of property tax for the financial year of 2020-21 in all Urban Local Bodies (ULBs) in the State. While the offer was announced for residential property tax owners in the GHMC area and later extended to other ULBs, it has been now extended to commercial properties as well.

Municipal Administration Minister KT Rama Rao directed the municipal commissioners concerned to make efforts to increase the property tax collections and encourage property owners to avail the discount. He took the decision following requests from various quarters especially commercial property owners and business establishments seeking the government to extend the Early Bird Scheme to them which will provide minor relief during the COVID-19 pandemic.

Accordingly, the government also decided to do away with the upper limit of Rs 30,000 per annum, extending the discount to all properties. The property tax should be paid for the entire financial year along with all pending arrears, on or before May 31, to reap the benefit. Though the scheme is offered before the commencement of the new financial year with March 31 as deadline, the State government extended the deadline till May 31 in view of the ongoing lockdown across the nation.

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An estimated annual property tax of about Rs 2129 crore, is expected from about 35.42 lakh property owners in the State including 30.1 lakh residential, 3.68 lakh commercial and 1.62 lakh mixed-use properties. In the GHMC area, the tax demand was about Rs 1,488 crore against 16.39 lakh property owners. In the GHMC area, 13.94 lakh residential, 2.15 lakh commercial and 29,222 mixed-use properties amount for total 16.39 lakh properties.

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