BENGALURU: While guidance value-based property tax collection is to be implemented from April 1, Bruhat Bengaluru Mahanagara Palike (BBMP) Special Commissioner (Finance), Shivanand H Kalakeri, after presenting the civic budget on Thursday, said its implementation could take time as the survey of properties was still underway and may not be completed by then.
For the guidance value-based property tax collection, all the properties in the city have to be assessed and documented.
Under the newly-proposed tax collection system, the categories to be filled in the form have reduced from 17 to six, and the Self-Assessment Scheme (SAS) evaluation will be limited to some of the categories as most of them will be auto-filled once the property number is registered — for which all the properties need to be assessed.
A few senior BBMP officials also pointed out that another factor that could delay this process is the Model Code of Conduct for the Lok Sabha polls that is expected to obstruct the property assessment process.
Property tax target Rs 6K cr
The process would require a large number of officials and staff deployed for the election duties. However, officially, the guidance value-based property tax will be implemented from April 1. BBMP Chief Commissioner, Tushar Girinath said, “Guidance value-based property tax collection will come into effect from April 1. It has been done in other cities.
Also, additional Rs 1,100 crore will be generated from Khata regularisation.” He said the target for property tax collection is set at Rs 6,000 crore this fiscal, and expressed confidence of it being achieved as citizens were offered a one-time settlement option with a reduced penalty, and time given till July 31 with interest waived off as a one-time measure. Through this, the BBMP aims to earn Rs 2,500 crore. Besides, the implementation of Premium Floor Area Ratio (FAR) is aimed at earning Rs 1,709 crore more.