Live
- Rajinikanth unveils stylish avatar in Lokesh Kanagaraj’s ‘Coolie’ teaser
- Akbaruddin files papers as 'backup' for Asad from Hyderabad LS seat
- Prabhas extends generous support to TFDA ahead of Director’s Day celebration
- Manyam district stands first in SSC
- Asad goes full throttle in campaigning as other contenders lack sting in drive
- ACB finds crores worth assets from arrested sub-registrar Taslima
- Xiaomi Smarter Living 2024 Event: Livestream, Expected Announcements, and More
- Sweet tidings for the elderly population
- WhatsApp Update: WhatsApp Develops File Sharing Without Internet
- Sharad Pawar Warns Of Emergence Of "New Putin" In India, Criticizes PM Modi's Governance Approach
Anantapur: RWA demands government to withdraw GOs on property tax
RWA demands government to withdraw GOs on property tax
Says new system of taxation will increase the burden on property owners as well as tenants
Anantapur: Federation of Residential Welfare Association (RWA) demanded the government to withdraw orders increasing property and water tax. The new system of taxation would increase the burden on property owners as well as tenants. Under the new system, the property tax, the water tax and the drainage charges would increase manifold. The government has issued the orders as per the Fiscal Responsibility and Budget management Act. It is not correct to impose additional burden on common man, according to M Virupakshi Reddy, president, Residential Welfare Association, Dr M Suresh Babu, vice-president, FRWA and V Sreenath, general secretary in a press statement.
The FRWA demanded immediate withdrawal of GOs 196, 197 and 198 issued recently.
The order was issued amending five Acts relating to the municipal department to change the system of levying of property tax from annual rental value basis (ARV System) to capital value (CV) system. The property tax will be fixed based on the market value of the asset fixed by the stamps and registration department in a particular area. The tax shall be levied at such percentages of the capital value of lands or buildings or both not be less than 0.10 per cent and not more than 0.50 per cent of the capital value (CV) in the case of residential buildings and shall not be less than 0.20 per cent and not more than 2 per cent of the capital value (CV) in the case of non-residential buildings, which shall be effected from the financial year 2021-2022.
The federation maintained that as per the GO, the capital value of lands and buildings fixed by the Stamps and Registration Department for the purpose of registration will be deemed to be the guideline value for fixation of property tax for which, zones and localities together with their boundaries; classification of the building; usage of the building; age of the building; plinth area; and door number (or) digital door number (or) unique Property Identification Number (PTIN) will be taken into consideration in determining the capital value. The PT will be fixed at such percentages of the capital value of lands or buildings or both as may be fixed by the municipal council/ corporation as the case may be.
