Revised VLT disappoints Visakhapatnam residents
The recent revision in vacant land tax (VLT) has disappointed many owners of vacant sites and plots in the city of Visakhapatnam.
The Greater Visakhapatnam Municipal Corporation (GVMC) officials claim that the decision has been taken to check defaulters of tax arrears as well as to raise revenue.
The GVMC is collecting arrears of VLT up to three years instead of one year, as per the new tariff. Sources reveal that VLT arrears around Rs.50 crore are yet to be paid to the corporation.
To read more real estate news:
NMC increases property tax by 25%
Tags:
Civic bodies, Greater Visakhapatnam Municipal Corporation (GVMC), GVMC Visakhapatnam, land tax, Residents, Tax, Taxes, vacant land tax (VLT), Visakhapatnam
[...] Revised VLT disappoints Visakhapatnam residents [...]