Property tax may increase in Chandigarh
Chandigarh- A revision of property tax rates in residential areas in Chandigarh will be performed by the committee of local bodies department.
The Municipal corporation had imposed nominal property tax of Re 1 per square yard annually on residential properties having an area above 125 square yard. This amount paid will be restricted to Rs 1000 in a year.
Low Income Group (LIG), Economically Weaker Section (EWS) and village plots would be exempted from the hike. A lump sum amount will be charged proportionately in case of apartments in Chandigarh.
The committee has been formed to investigate the matter in detail. It will study the formula of setting rates taking the feasibility of exemption in any category into consideration. If there is any possibility of exemption, the criteria and mode of payments will also be decided.
According to joint secretary of local bodies, after getting the minutes of the MC’s last house meeting, the committee of officers will study all aspects, including the collection amount of tax and its formula. The results of this meeting would be forwarded to UT within 10 days. If the committee suggests that the amount is low and revision is needed, then it will be made. Suggestions of public will also be taken in this regard.
A detailed study of issues like exemption and mode of payments will also be done before new tax rates are imposed. Some UT officials pointed out the possibility to increase house tax as tax rates imposed by MC does not serve the purpose of tax collection. This revision will also protect the finances granted by the Union government.
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