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Cap on property tax may go

Special Correspondent

HYDERABAD: The government is likely to remove the 50 per cent cap put on hiking the property tax on commercial properties in the urban regions. The cap was put in place couple of years ago when various municipal bodies sought the government permission to increase property tax. Though the demand was for increasing property tax for both residential and commercial properties, the government had allowed for the latter only that too restricting it to 50 per cent of the prevailing rates.

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