No Hike in Property Tax for Hyderabadis

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The government has approved the GHMC budget for 2013-14 without any hike in property tax rates.

With no hike in property taxes, property tax on buildings including those of state and union governments, is likely to bring Rs 950 crore over the next financial year (with 100% verification of all properties).

In the Greater Hyderabad Municipal Corporation (GHMC) system, it is a convention to get the approval from the elected body of corporators, despite there is no need according to rules, because their cooperation is important to collect taxes from citizens.

It is said, there are un-assessed numbering thousands and under-assessed properties numbering lakhs which need to be brought into tax net.

The authorities have sent the budget proposal to state government for their approval.

Source: DC

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