Karnataka - Bangalore   

New property tax scheme likely this year

By Our Staff Reporter

BANGALORE, MAY 7. The Bangalore Mahanagara Palike (BMP) is likely to introduce this year its new property tax scheme based on the capital value of a building.

"The proposal has been approved by the State Government and is now before the BMP Council for its approval. We will take it up in this month's meeting," the Mayor, P.R. Ramesh, said.

He told presspersons here on Friday that citizens could pay their tax under the existing Self Assessment Scheme (SAS) for the first half year.

"If the new scheme is introduced, people can pay the balance if their tax is more. If it is less, the extra amount paid will be adjusted in the next instalment," he said.

"We propose to bring in some changes to the existing scheme. The Government has framed rules and guidelines for the new scheme. But we need to discuss it in the council before adopting it," he said.

Asked whether the existing SAS assesses would be affected by the new scheme, the Mayor said a random comparison of the prescribed rates under SAS and the proposed Capital Value-based Scheme (CVS) had revealed negligible difference.

The CVS was evolved after the Karnataka Municipal Corporations (KMC) Act was amended. It was scheduled to be introduced in the city from April, 2002.

But it was postponed many times as there was widespread criticism from corporators and the public.

Besides, there was also delay in framing the rules and confusion in the tax rates.

The BMP Council had also appealed to the State Government to permit it to defer the introduction of the new scheme for a year.

The council resolution had said that the postponement was essential as the BMP had promised the taxpayers while introducing the SAS in 1998 that the rates would not vary for another five years, till March 2003.

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