BENGALURU: The BBMP has clarified that there is no proposal to hike the property tax in the city. The Special Commissioner (Revenue) clarified on Wednesday that there are many fake reports doing the rounds in the media about the property tax hike and said there is neither any such proposal nor any plans to increase property taxes. He urged citizens not to give heed to any rumours.
Property tax is a major revenue for the cash-strapped civic body. In 2023-2024, BBMP mopped up Rs 2,293 crore property tax and discussions were on to increase the property tax. Also, from the existing 18 lakh properties, BBMP is aiming to increase the number of properties to 20 lakh, thereby increasing its total property tax.
It is said BBMP shelved plans to hike the property tax as Lok Sabha polls were then round the corner. In March, the government ruled out property tax revision and put an end to the new guidance value-based property tax computation method from April 1 and clarified that it will continue with the property tax computation method adopted in 2016.