Property tax collection increased marginally
Posted on: 25/Jan/2018 11:58:07 AM
Only a marginal increase in collection of property taxes for the period between April 2017 and January 2018 has been collected by the Greater Chennai Corporation.
Officials say, The tax collection for the April 2017-January 2018 period (till January 22) stood at Rs 535.75 crore. The collection figures recorded for the corresponding period a year ago was Rs 527.11 crore. This represents a 1.5% increase and is contrary to what the corporation expected.
Last year, the civic body netted Rs 695.45 crore in property taxes thanks to demonetisation. Collections between November 2016 and March 2017 skyrocketed after the civic body started accepting demonetised Rs 500 and Rs 1,000 currency notes.
Post the implementation of the GST, the city corporation expects a revenue boost from entertainment tax collection. Before July 2017, theatre owners in the city deposited entertainment tax collected on movie tickets with the commercial taxes department.
A corporation official said, There are around 140 theatres in the city. We expect to receive between Rs 10 crore and Rs 15 crore in entertainment tax by end of March 2018.
