Corporation of Chennai collects property tax worth Rs 480 Crore, the highest ever
Posted on: 02/Apr/2014 11:57:41 AM
The Corporation officials mentioned that Corporation of Chennai’s property tax collection for 2013-14 has crossed 480 crore, the highest ever.
However, it still fell short of its 550 crore target by 70 crore. The corporation collected 87% of property tax from the 15 zones in 2013-14. It collected 461 crore (92%) in property tax against a target of 500 crore in 2012-13.
A corporation official said the target was not achieved mainly because of the elections. Revenue department officials were engaged in election work and monitoring Amma canteens, he said.
The increased collection is likely to give infrastructure projects a boost. The lion’s share was collected from Teynampet zone, Adyar and Royapuram. Corporation officials said the number of tax payers increased from 6.5 lakh to10.82 lakh after the expansion of the city. The corporation collected 234 crore in professional tax against a target of 230 crore, and 94 lakh in company tax
