The Hindu        24.10.2014  

Property tax may go up

The Chennai Corporation is planning to link property tax
with the current guideline values, instead of old base rates finalised
in 1998. This is likely to increase the property tax rates across the
city.

Following complaints from residents pertaining
to anomalies and inconsistencies in the base rates, the civic body is
planning to request the State government to amend the Chennai City
Municipal Corporation Act to revise the property tax every year based on
current guideline values.

The civic body continues
to calculate property tax, based on the annual rental value of a
property and on base rates fixed 16 years ago.