Property Tax enhancement not be done says Mayor in Hyderabad
No Comments Sub Category:Community,Realty News Posted On: Nov 04, 2011
Mayor B. Kartika Reddy reported in concern with the property tax hike to media saying that, tax enhancement should not be done and the other officials also agreed to the same saying that the government has decided no to hike the property tax as the property buyers are already bearing the trauma of price hike of other commodities and fuel. The official also added on saying, if at the tax if enhanced, it might change to commercial properties but not on the residential property.
Property tax may increase based on the fund released by the government on the road repairs, flyover construction and other civic works in the city. The property buyers can now sigh a relief as the tax has no chances of seeing a hike. Greater Hyderabad Municipal Corporation has also agreed not to implement five percent tax on the on the properties in Hyderabad, however its in the hands of City level Development Plan (CDP) or the Total Infrastructure Program (TIP) to decide the possibilities of levying property tax.
Source: The Hindu
Tags:
City level Development Plan (CDP), Commercial properties, Flyover construction, Greater Hyderabad Municipal Corporation, Hyderabad, Levying property tax, Mayor, Property Buyers, Property hike, property tax, Property Tax Hike, Residential property, road repairs, Tax enhancement, Total Infrastructure Program (TIP)
