Chennai Corpn. makes no changes to property tax rates

The Chennai Corporation Special Officer has passed the budget for 2017-2018 without making any new announcements on infrastructure development and welfare projects. The property tax rates will remain unchanged. The civic body has not changed the tax rates since 1998.

A senior official of the Corporation said the budget was passed on March 14. “We have not released the information on welfare measures because of the model code of conduct,” said an official.

According to budget estimates, the civic body is expected to spend more on stormwater drains in 2017-2018.

Chennai Corporation will receive a loan amount of more than Rs. 2,000 crore from various funding agencies, including the World Bank. The interest payment on loans is also expected to increase.