Recently revised higher property tax withdrawn!
Posted on: 20/Nov/2019 12:20:35 PM
The recent upward revision of the Property Tax by the Metro Corporations, city corporations, and Panchayats is withdrawn. A new committee has been formed to revise the present Property Tax structure.
Tamil Nadu State Government Minister for Local Administration, S. P. Velumani has announced that the property owners need to pay only as per the old Property Tax. In a session with the press, the minister further informed:
‘The Property Tax has not been revised since 2008 by the Metro Corporations, city corporations, and Panchayats. As such, the government announced on 19th July 2018 that a review of the Property Tax will be undertaken. As per the review, an order increasing the Property Tax was released as under:
Non-rental property with owner residing in his property - not more than 50% of the present Tax
Rental places let out by the property owner - not more than 100% extra of the present Property Tax
For other kinds: of constructions - not more than 100% of the present Property Tax
Sometime later, the state government announced on 26th July 2001that the Property Tax is being revised upwards for all types of constructions by not more than 50%.
Based on this, the Property Tax related activities were taken up all local administrations. As such the revised Property TYax was levied as per the existing Tax assessment system in the urban local administrations in the 6 expanded major city corporations and 4 city corporations
Apart from the Chennai Metro City and Coimbatore city Corporations, the prevalent low-assessed (before 1st April 2018) Property Tax in all the other local administrations was reviewed and revised upwards.
Subsequently, the Property Owners appealed to the local administrations that the revision was higher and the must be reduced. Based on these appeals and also as per the announcement in the Tamil Nadu Legislative Assembly on 8th July 2019, a review will be undertaken on the issue of Property Tax.
As per the Tamil Nadu Chief Minister’s order, a committee to review this has been formed consisting of the corporation commissioners, directors of the city corporations and the Chennai Metro City Corporation Commissioner headed by the Secretary of the State Finance Department (expenditures).
This Committee will review the Property Tax Structure based on the various appeals from the Property Owners and related Associations and send a detailed report to the State Government.
As such, until the receipt of the above detailed d and report and a decision is taken based on the same, the property owners will need to pay the Property tax as per the old structure before the announcement made on 1st April 2018 in all the 15 Corporations, 121 city administrations, and 528 local administrations.
In case the Property Tax has been as per the canceled revisions, this will be adjusted in the next 6-month period Tax. A state government order has already been released regarding this.
