BENGALURU: The Bruhat Bengaluru Mahanagara (BBMP) is proposing to bump up property tax by 25% for residential properties and 35% for non-residential properties for the financial year 2019-20.
Palike Commissioner N Manjunatha Prasad said that as per the Karnataka Municipal Act, property tax is to be revised every three years. The proposal was placed before the government and BBMP council in March, but was held in abeyance because of the model code of conduct.
It has now been finalised. The proposal, considered rather steep, will be tabled at the council meeting scheduled for June 27-28, after which it will be implemented. The tax hike is bound to pinch the citizen, coming as it does on the back of a rise in power and water tariffs.
Prasad said there was no need for approval or consultation from citizens as the revision is as per the Act. The revenue mopped up will be spent exclusively on infrastructure work in the city, he said. During the 2018-19 fiscal, BBMP had earned Rs 2,500 crore from property taxes alone.