The state government has waived the interest on arrears and current year dues of property tax up to March 31 and adjustment of interest already paid by the tax payers against the property tax payable in future.
The principal secretary of municipal administration and urban development (MAUD) issued orders to this effect on Saturday.
The waiver of interest on arrears and current year dues is a one-time concession to property owners in all municipalities and corporations provided that the assessee clears the entire arrears and current year dues of property tax in one lumpsum or in instalments before March 31.
In case interest has already been paid on arrears and current year dues during 2012-13, adjustment will made in future tax payments but no cash refund will be made.
The government took the decision on the representation of the commissioner and director of municipal administration and Greater Hyderabad Municipal Corporation commissioner MT Krishna Babu in exercise of the powers conferred on him under Section 387-A of the AP Municipalities Act, 1965 and under Section 679-E of GHMC Act,1955.