Property Tax Surcharge Blows from Next Year

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It is decided by the Greater Hyderabad Municipal Corporation (GHMC) that the five percent property tax on residential and commercial buildings in the city suburbs will be blown from the next year. The commercial buildings which were built before 2007 were sent with notices to pay the enhanced tax. Owners of those buildings were given 15 days’ time on receipt of the notices with the current tax and the extra amount to be paid.

When there was a hike in the tax with 50% cap for commercial buildings constructed in 2007 only, the tax was exempted for buildings which are built later. However, normal demand notices will be sent to the commercial buildings which are built after 2007 and have been paying the enhanced rate of the tax.

Source: Hindu

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