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Guidelines issued for property tax revision in urban local bodies

TIRUCHI: The State government has issued guidelines for revision of property tax in urban local bodies, scheduled to come into effect from April 1, and stipulated that the hike shall not be more than 25 per cent for residential buildings.

The revision will be based on self-assessment returns to be submitted by property owners in the prescribed format. Heads of corporations, municipalities and town panchayats have been asked to collect the returns from property owners and prepare a master list to prevent omissions. Bill collectors, revenue inspectors and other officials will verify the returns and cross-check with the records available with local bodies and other government agencies.

To ensure that the revision is not exorbitant, the following ceiling has been fixed: residential buildings (irrespective of whether owner occupied or rented) — 25 per cent; industrial buildings — 100 per cent; commercial buildings — 150 per cent.

Different ceilings have been proposed for buildings assessed in the post-revision period.

Discounts are to be provided based on depreciation value and nature of buildings. Ten per cent discount shall be provided for buildings that are five to 15 years old; 15 per cent for those between 15 and 25 years and 20 per cent for those above 25 years.

Buildings with tiled and AC/GA sheet roofing will get a discount of 25 per cent and those with thatched roof, 50 per cent discount.

Local bodies have been instructed to computerise the revision exercise and prepare a data base. The exercise shall be completed by June 30.

Local bodies have also been instructed to demarcate zones for fixing the basic value of the property, taking into account factors such as location, predominant usage and available infrastructure.

Specialised buildings such as star hotels, theme parks, multiplexes and shopping malls, air-conditioned wedding halls and super speciality hospitals will be treated as a separate category and a separate basic value fixed by local bodies.

All properties, including vacant land, are to be brought under the revision. Hoardings and communication towers fetching rent will be treated as commercial buildings. In no case shall the revised tax be less than the existing tax.

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