FAPCCI urges government to defer new property tax system
CV Atchut Rao, president of FAPCCI
- Due to the pandemic, the rental values dipped by 20 percent for the residential buildings and 50 percent for commercial buildings
- Many commercial establishments are closed as there is no income
Vijayawada: The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) appealed to the Government of Andhra Pradesh to defer the changed system of levying property tax from annual rental value basis to capital value system for the financial year 2021-22.
In a statement here on Thursday, CV Atchut Rao, president of FAPCCI, said that the government issued orders increasing the property tax and action plan and the preparatory work will be starting from Thursday.
He said that various trade and industry associations were representing about the impact of the G.O issued by the state government changing the system of levying property tax.
He recalled that during the past few months due to Covid-19, the rental values all over the State dipped by 20 percent for the residential buildings and 50 percent for commercial buildings.
He also stated that many commercial establishments were closed and there was no income on these properties. Increase of tax will be additional burden for the citizens at this juncture.
He pointed out that the property owners, in fact, are eagerly waiting for a relief announcement from the state government.
He said that he wishes to bring the decision of the Government of Telangana, which has already announced 50 percent discount in property tax, to the notice of the government.
Rao appealed to the government to consider the request and defer the hike of property tax.
