BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) has begun work on reassessment of holding tax of around 40,000 commercial and residential properties in all three zones of the Capital city as per the revised benchmark value of their land.
In an office order issued recently, the civic body asked the Zonal Deputy Commissioners (ZDCs) of South-East, South-West and North Zones in the city to complete revision of all the non-assessed properties within 15 days.
The reassessment will be done retrospectively with effect from April 1, 2019. After completion of the reassessment process, the ZDCs will collect 50 per cent of revised assessment amount to be paid towards any holding from the period 2019-20 to 2020-21.
The civic body, however, will allow proprietors to pay the amount towards holding/property tax in quarterly or half-yearly installment if one is not able to make the payment at one go due to the pandemic situation.
An official from the corporation said the 15 days deadline to complete reassessment may also be extended as the Covid-19 crisis is affecting work.
The BMC had increased the holding tax after revision of benchmark value of land cost in the Capital by the General Administration department. The department had revised the benchmark value of different mouzas in July last year with effect from February 18, 2019.
Accordingly, the Municipal Corporation, in its office order issued on October 1, had announced to take 0.5 per cent of the land cost of the revised benchmark value for calculation of annual value of the building for assessment of the new holding/property tax.