Property Tax to undergo revision every year to raise revenue
February 10, 2021
Bengaluru: In an effort to raise revenues of cash starved City Corporations, the State Government on Monday passed an Act in the Legislative Council that allows yearly upward revision of tax on properties coming under all City Corporations of the State, barring
Bruhat Bengaluru Mahanagara Palike (BBMP).
The Act enables yearly enhancement of property tax in the range of 3 to 5 percent in all 10 City Corporations Mysuru, Davangere, Ballari, Tumakuru, Shivamogga, Hubli-Dharwad, Belagavi, Vijayapura, Mangaluru and Kalaburagi in the State .
Earlier, the property tax used to generally undergo a revision once in three to five years, when the Government raised taxes by 15 to 30 percent at once. But the new Bill will allow the City Corporations to enhance property taxes in their limits by 3 to 5 percent every year.