50% interest waived on property tax

Vijayawada: The state government has issued orders to waive off 50 per cent of the interest accumulated on arrears and current year property tax (buildings and vacant lands) dues up to the financial year 2024-25 as one-time measure in all urban local bodies. However, this provision is applicable if assessee pays the total property tax arrears and current year dues together with 50 percent interest in one lumpsum on or before March 31, 2025.

The government has taken this decision to speed up the collection of property taxes. Property tax worth crores of rupees is pending across the state. Principal secretary, department of municipal administration and urban development, S Suresh Kumar issued the orders in this regard on Tuesday.