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Self assessment for property tax revision - Voice your views

The novel idea of ‘self assessment for property tax revision’ appears to be not founded by any principles. Though the local bodies concerned expect some honesty in exposing the status of the properties from the owners themselves, the tendency of the property owners to suppress some of the items which would increase the tax rate cannot be ruled out. Further, the value of every component in the property cannot be assessed by the owners and such an assessment can be made only by the competent professionals in the respective fields. It may not be possible to work out the rates by individuals for obvious reasons, and the value disclosed in the guideline value fixed by the government would only be prudent for assessing the tax rate. As such, value of any additions and alternations made in the properties between the date of construction/purchase and the period of self assessment can be made only when the authorities fix standardized rates and announce publicly to take the value for such additions and alternations. In the absence of any mechanism for self-assessment of properties by the property owners, the self-assessment for property tax revision seems to be unworkable and irrelevant in the present context.

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