Property Tax increased by 50-100% throughout Tamil Nadu
Posted on: 24/Jul/2018 5:41:47 PM
The Property Tax has been increased by 50% to 100% throughout the state of Tamil Nadu - covering all areas administered by metro corporations, corporations or city administration.
The Property Tax is fixed as per the location and collected by the local administrations. It is to be noted that the Property Tax has not been revised since 2008.
In some local administrations, the property tax was revised now and then. The Property tax has not been collected in several places. This has resulted in a huge loss of revenue for the local administrations.
The petition regarding this issue came up for enquiry in the High Court recently. The judge who conducted the enquiry ordered the state government that the decision regarding revision of the property tax must be made and a report must be submitted regarding the same within 2 weeks.
Subsequently, the state government of Tamil Nadu has released an order increasing the property tax. As per this, the property tax has been fixed in 3 categories – resident place, the rented place, and the non-residential place.
The increase in property tax for the residence category in the metro corporations, corporations, and the city administration has been fixed at 50%.
The increase in property tax for rented places for the above category has been fixed at 100%.
The property tax for the non-residential areas under the above administrations has been fixed at 100%.
The areas under the jurisdiction of the metro corporations and the city corporations have been divided into 3 categories A, B, and C. Property Tax has been fixed accordingly. All 3 categories have the property tax revised upwards.
The revised Property Tax will be collected from the current financial year.
