HYDERABAD: Telangana government on Tuesday announced a waiver of 90 per cent tax for accumulated arrears of the interest component on property tax under One Time Scheme (OTS).This scheme will be effective from August 1 to September 15 in all the Urban Local Bodies (ULB) of the State including Greater Hyderabad Municipal Corporation (GHMC).
Taxpayers can avail the waiver, only if, they clear the total amount of property tax dues till 2019-20 along with 10 per cent interest. Municipal Commissioners have been instructed to conduct wide publicity campaigns to create awareness among the people about the scheme.
Commissioner of GHMC in the order stated that there were 5.64 lakh property tax assessments with an accumulation of property tax arrears amounting to Rs 1,477.86 crore from the past two decades. The interest amount against for the same was around Rs 1,017.76 crore till the financial year 2019-20.
Several reasons like disputes over tax assessment, the vacancy of the premises, dilapidated structures, and dispute between family members have resulted in the accumulation of dues.