Property Tax for Private Schools and Colleges set by Greater Chennai Corporation
Posted on: 06/Mar/2018 3:02:33 PM
Reports on Monday confirmed the rate of Property tax for the private Schools and Colleges under the regulation of Property tax code by Greater Chennai Corporation.
According to the January 11 order by the Tamil Nadu Government it eradicated the exemption granted to the Private educational Institutions. The financial turn over made by these private institutions are merely in equal terms with any other businesses and so the service oriented exemptions committed to the private schools and colleges are completely abolished.
The property tax charges for these private institutions will be depending on the residential building rate on any given area and a 60% surcharge added to this rate will be collected from the private schools and colleges.
However this new announcement created a stir among the Parents that the Educational Management of these private concerns may rise up the fees and other charges to find their needs to meet up with this new property tax regulation.
