Chennai Property Tax Set to Rise by 6% Amidst Political Protests!
Property owners in Chennai will face a six percent increase in property tax, as the Greater Chennai Corporation (GCC) passed a resolution on Friday to boost local revenue, effective October 1. This decision sparked discontent among the ruling DMK`s allies, the CPM and VCK, who staged a walkout in protest.
The last property tax hike occurred during the 2022-23 fiscal year, with increases ranging from 50% for properties under 600 sq. ft. to 150% for those above 1,800 sq. ft. The new Tamil Nadu urban local body rules allow the GCC to raise property tax by either six percent or the average growth rate of the state’s Gross State Domestic Product (GSDP), whichever is higher.
While opposition councillors remained silent, representatives from the CPM and VCK urged the council to withdraw the resolution, suggesting that tax hikes be limited to properties over 2,000 sq. ft. Mayor R. Priya expressed a willingness to consider their demands.
