The Hindu 03.02.2010
Revised property tax approved by Government
Staff Correspondent
| It is applicable with retrospective effect from 2008-09 |
Tax on commercial buildings reduced from
2 per cent to 1.5 per cent
Civic body to launch awareness campaign on
tax payment
MANGALORE: The State Government has approved the rates of property tax as revised by the Mangalore City Corporation under the self-assessment scheme (SAS), according to K.N. Vijayaprakash, Commissioner of the corporation.
The revised rates are applicable with retrospective effect from 2008-09, he told presspersons during an informal chat on Tuesday.
According to the revised rates, the tax for residential buildings will be 0.5 per cent of capital value instead of 0.6 per cent, and the levy on commercial buildings will be 1.5 per cent of capital value instead of 2 per cent.
The rate for the third category of property has been reduced by 50 per cent. The rate of tax for non-residential/non-commercial buildings has been fixed at 1 per cent of capital value. Earlier, this category had been classified as commercial/non-residential buildings and levied a tax of 2 per cent.
Vacant sites
The tax for vacant sites measuring up to 1,000 sq. m is 0.1 per cent; between 1,000 sq. m and 4,000 sq. m, 0.025 per cent; and those above 4,000 sq. m, 0.01 per cent.
Mr. Vijayaprakash said that the corporation would prepare a booklet containing details of the revised rates and the scheme in 10 days. Pamphlets would be distributed to people to create awareness about payment of taxes.
As the civic body was awaiting government approval for the revised tax rates, there was confusion among the people about paying it, he said. The Commissioner said that he would convene a meeting of bank authorities here in a few days and request them to accept property taxes in all the 43 branches here.
Plans were afoot to open counters at select places to receive property taxes. The corporation would make an announcement to this effect in a few days, he said.
Earlier, participating in a meeting convened by A.G. Kodgi, Chairman of the task force on implementing recommendations of the Third Finance Commission, Mr. Vijayaprakash said it had come to the corporation’s notice that 33,635 property owners had not paid taxes this year. This included 21,090 residential properties and 12,545 non-residential properties. In all, the civic body had to collect taxes from 1,83,663 properties from this financial year. It included 1,41,167 residential and 42,496 non-residential properties, he said.
