Hyderabad Municipal Corporation gave nod for revised property tax

By Accommodation Times News Service

The draft for revising property tax was cleared six months ago, but the Greater Municipal Hydrabad Municipal Corporation (GHMC) is in a dilemma over issuing a notification inviting objections and
suggestions from citizens.  The draft notification was cleared by GHMC commissioner but it has been kept in abeyance due to stiff resistance from Mayor and other public representatives.
The officials said, the GHMC would seek the state governments nod for revising property tax now otherwise they might have to wait for two years. GHMC had collected about Rs 780crore as property tax
during the 2012-13 financial years and hopes to raise Rs 950crore in the current fiscal, 2013-14. Officials claim the set target could be achieved only with hike in property tax and by bringing un-assessed
properties into the tax net. The corporation has already begun the exercise to bring un-assessed properties into the tax net.
The property tax revision exercise began in July 2012 by dividing the city into 115 zones and 344 subzones based on abutting main roads, internal roads, lanes and by-lanes taking the annual rental value
(ARV) into consideration. Nearly, 20% properties were surveyed before fixing the ARV.
The property tax revision has been proposed based on location of the building, type of construction,plinth area, age of the building and nature of usage. It also depends on civic amenities like water supply
network, roads, street lighting and factors like educational institutes, hospitals, shopping complexes,parks and playgrounds, banks and other development activities.




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