BBMP Property Tax collection for 2011-12 begins
Tax payers this year can heave a sigh of relief that the corporation will not be going ahead with the 15% revision, as per the revised Self Assessment Scheme rulebook. From April 1, 2011 BBMP starts collecting property tax for for 2011-12.
For property owners, March 31 is last day to pay their property tax for current year 2010-11. The city corporation finally implementing its long-planned cashless transaction for one of its regular revenue sources. According to BBMP officials, the increasing number of bouncing cheques was also a reason to introduce this new method.
This time, you can just swipe your credit or debit card, at no extra charge.Those property owners who wish to pay the property tax in person, can do so at the respective help centers or at the assistant revenue office. They will be given a receipt on the spot. The exact estimate for property tax collection is yet to be made, but on a rough estimate, collection figures cross Rs 1,100 crore as revenue for the year.
Tax on garbage
From April 1, property owners will also have to fill a separate application form for payment of garbage cess. The applications will be made available at all tax counters. The BBMP will levy the proposed Garbage Cess on residential and non-residential units based on the dimensions of the land on which they stand.
For Residential Building
- Up to 1000 sqft…..Rs 10 per month
- 1000 to 3000 sqft…Rs 30 per month
- Above 3000 sqft…..Rs 50 per month
For Commercial Building
- Up to 1000 sqft…..Rs 50 per month
- 1000 to 5000 sqft…Rs 100 per month
- Above 5000 sqft…..Rs 200 per month
Property owners have the option of making a one-time property tax payment of Property tax 2011-12 before April 30 and avail of the five per cent rebate. May 30 is the deadline to pay property tax for first half-year installment (without penalty).
The payment of property tax will be centralized from next year and a property owner can pay from any centre, using a debit or credit card, at no extra charge.All revenue collection centres (BBMP One centres and ARO offices) across the city will be equipped with the new swiping machines by Friday.
Tax Calendar
Property Tax 2010-11
- March 31,2011 : Last date to pay property tax for this year (2% of tax amount for every month).
Property Tax 2011-12
- April 1, 2011 : Tax collection for 2011-12 begins. Also fill a separate application form for payment of garbage cess.
- April 30, 2011: Last day to pay full tax of 2011-12 and avail 5% rebate
- May 30, 2011 : Deadline to pay first half-year installment or full (without penalty or rebate)
- Nov 29, 2011 : Deadline for second installment without penalty (2% of tax amount for every month)
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