Change in property tax to come to effect Tomorrow
Posted on: 18/Sep/2018 5:45:41 PM
A sum of Rs 300 crore is likely to mop up as the revision in property tax comes to effect tomorrow. From Wednesday, people ought to adapt to paying revised property tax. In July, the Greater Chennai Corporation had requested for filing self-declaration form to all the residents. These forms pertain to their respective properties. Later, the last date was extended to 16th September. Of the total 12 lakh properties, just 8 lakh of them had submitted the form, says civic body reports. The extra revenue of about Rs 300 crore is expected to get mopped up by the corporation once the revision is implemented.
These properties are to bear with the revised rates. Inspections will now be conducted to check any likeliness of discrepancies in declaring, the revenue official added. In case where the remaining assessees fail to declare, revenue staff will be visiting their properties in order to get the forms. Based on the available details, we shall do the calculation and perform inspections in the following months.
Notices and text messages will be sent notifying the revised rates. A revision notice will also be sent to all the property owners and based on the revised rates, the property tax need to be filed, says R Lalitha, the deputy commissioner, revenue. For those who have already got their tax filed, the extra sum towards arrears need to be paid out before 30th September.
Speaking about this, one of the Vadapalani residents says the process is very tedious. When he intended to do the self declaration, it was not possible as he did not have the property in his own name in spite of doing the necessary legal name transferring processes long ago. One more resident from Mandaveli says there were few doubts about filing details. Hence it takes a lot more time.
The owner rebate provided to all the owners who live in houses belonging to themselves in main city limits is withdrawn. There was 25 percent rebate which is now withdrawn. So, the same revenue will be applicable for the owners as well as the tenants. In the added areas, this concept is not applicable.
There will be a sum of 20 percent concession in property tax for semi permanent structures. This pertains to gazette notification and shall come to effect from Wednesday, the official added.
It was back in 1998 that the last revision in property tax was made. For every 5 years, there should be revision in rate. Except the Chennai corporation, all the other urban local bodies had made an amendment back in 2008. Recently, in July 2018, the Madras High Court had ordered to revise property tax in the state.
