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Property tax revenue touches Rs 1,701 crore
Property tax revenue touches Rs 1,701 crore
- People use OTS scheme for waiver of 90% of accumulated arrears
- Though GHMC aimed to collect Rs 1,900 crore in the fiscal, tax payments touched only Rs 1,701 crore
- In the previous fiscal 2019-20, GHMC collected an amount of Rs 1,472.31 crore in the form of property tax
- Despite Covid pandemic taking a toll on economy, it is a good figure, says the civic body
Adarsh Nagar: GHMC received property tax collections of Rs 1,701 crore in the financial year (2020-21) against the target of Rs 1,900 crore.
The Greater Hyderabad Municipal Corporation (GHMC) received an amount of Rs1,701 crore till Wednesday as the financial year of 2020-21 ended. Itsofficials said that 12.2 lakh property owners have paid the property tax in this financial year, of which Rs 399.20 crore was received from the One Time Settlement (OTS) scheme introduced by the State government.
According to officials, most of the people utilised the OTS scheme which was introduced for the waiver of 90% of accumulated arrears on property tax, provided the taxpayer clears the principalamount of dues till 2019-20 altogether, with 10 percent interest on accumulated arrears in one go.
Though the civic body officials aimed to collect the target of Rs 1,900 crore in the financial year, the tax payments touched only Rs 1,701 crore.Amidst Covid-19, GHMC received a good figure in the form of property tax.
Zone wise, the highest amount of Rs 491.69 crore was collected from the Khairatabad zone and 291.91 crore collected from the Serilingampally zone.
Kukatpally zone collected Rs 285.84 crore and Secunderabad Zone 259.78 crore, LB Nagar zone Rs 246.74 crore and the Charminar zone Rs 126.96 crore.In the previous financial year 2019-20, GHMC collected an amount of Rs1,472.31 crore in the form of property tax.
