GHMC to form expert panel Property tax revision

GHMC to form expert panel Property tax revision
Highlights

Greater Hyderabad Municipal Corporation Commissioner B Janardhan Reddy on Thursday said another expert committee would be constituted to revise property tax rates for both commercial and residential establishments. 

Hyderabad: Greater Hyderabad Municipal Corporation Commissioner B Janardhan Reddy on Thursday said another expert committee would be constituted to revise property tax rates for both commercial and residential establishments.

Responding to a news item published in The Hans India pertaining to loss of nearly Rs 4,000 crore annually due to false assessment of property tax, he said, "The case is being studied by experts. A decision will be taken soon. GHMC is also planning to geotag these establishments using GPS.

In 2007, the corporation had taken certain decisions for enhancing tax on commercial and business establishments. However, GHMC has not taken up enhancement of revised rates till date. Effective methods like geo-tagging will put an end to such false assessments by property tax payers in the city."

The Hans India reports mentioned that a detailed survey carried out by Jawaharlal Nehru Technological University, Hyderabad (JNTU-H) revealed that GHMC has been losing Rs 4,000 crore of revenue per annum in the form of property tax as 80 per cent of the properties are either not assessed or under assessed.

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