BBMP collects 45 crore more property tax this fiscal

Bengaluru: The Bruhat Bengaluru Mahanagara Palike (BBMP) has performed better in the property tax collection for the year 2022-23 than the previous year by raising Rs 748.63 crore till April 25. This is Rs 45 crore more compared to 703.31 crore the BBMP collected for the same period last year.

Compared to the previous year, this time there is an increase in the property tax collection,confirmed BBMP Special Commissioner (Revenue) Dr Deepak RL.

"This is a good start. The government has set a target of Rs 4,100 crore tax collection this fiscal including old debts. Revenue officials have to work hard to achieve this,"Deepak said.

Mere tax collection is not enough. Authorities should ensure that each property owner pays the right amount of tax. Special efforts are needed to prevent tax evasion. We have also tried to use modern technologies to prevent leakage. Taxpayers will get a 5 percent discount if paid in April month, said Deepak.

The BBMP is no longer proposing to extend the discount period. He made it clear that the government should take a decision on this. Taxpayers will be charged 2 % interest per month after the deadline this year. The interest rate has been revised from this financial year. No interest is charged for the month of May. Deepak explained that after June 1, those who have not paid taxes ontime have to pay an annual interest rate of 9 percent on the property tax amount.