For representational purposes
For representational purposes

Telangana: 90 per cent rebate on accumulated property tax interest amount

Govt approves One-Time Scheme for all ULBs given the defaulters clear the entire principal amount for 2022–23

HYDERABAD: The state government has introduced a ‘One-Time Scheme’ (OTS) with immediate effect to provide relief for property tax defaulters in all Urban Local Bodies (ULBs) across the state. Under this scheme, a waiver of 90% of the accumulated interest on property tax arrears is offered, provided the taxpayers clear the principal amount of the 2022–23 fiscal year, along with 10% of the interest on accumulated arrears, in a single payment.

In an order, the state government has also instructed the Greater Hyderabad Municipal Corporation (GHMC) and the Commissioner and Director of Municipal Administration (CDMA) to take appropriate action in this regard.

This scheme also extends to taxpayers who have already paid their entire property tax dues, including interest/penalties up to March 2023 during the current financial year preceding the implementation of this scheme. In such cases, 90% of the interest will be adjusted against future payments.

Nearly 5 lakh defaulters in GHMC limits

Recently, the GHMC Commissioner and the Director of Municipal Administration urged the state government to issue suitable orders for the waiver of 90% of accumulated arrears’ interest until the financial year 2022–23 for all properties.

In GHMC limits, approximately 4.95 lakh property owners have arrears amounting to Rs 4,522 crore, inclusive of Rs 1,887 crore in principal arrears and arrear interest of Rs 2,634 crore.

State and central government properties, around 1,800 in number, have arrears totalling Rs 5,280 crore, including Rs 1,620 crore in principal arrears and arrear interest of Rs 3,659 crore.

Applicable for all

The scheme also extends to taxpayers who have already paid their entire property tax dues, including interest/penalties up to March 2023. In such cases, 90% of the interest will be adjusted against future payments

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The New Indian Express
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