Citizens to face property tax hike in Hyderabad
The Greater Hyderabad Municipal Corporation (GHMC) is all set to hike the property tax despite stringent opposition from corporators.
The GHMC, does not need permission to hike the property tax according to the Municipal Act, as the act says that the corporation can revise tax every five years and last revision was made in 2007.
The tax being paid over 5 lakh of the total 12.50 lakh property owners in the city was less than one month’s rent compared to the prevailing rental values, as the owners are paying property tax at the rate of three months of the annual rental value.
If in case this fails to work, officials will put a proposals in front of the elected body to increase the minimum property tax to 75-90 paise per square foot from the existing 40 paise. The maximum tax rate worked out by the officials is Rs 3.80 paise per square foot from the existing Rs 1.25.
The idea is to ensure that at least 10 lakh property owners are covered under Rs 1.80 paise to Rs 2.40 per square foot category. So the citizens have to gear up for the hike in property tax before and after Diwali.
GHMC, GHMC Property Tax, greater hyderabad municipal corporation house tax, greater hyderabad property tax, greater municipal corporation of hyderabad property tax, Hike in property Tax, Hyderabad, pay property tax online hyderabad, property tax
