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The Government’s announcement of raising the property tax with effect from April 1,2008 in the range of 25 per cent to 150 per cent was opposed by several quarters. Urban and local bodies are unable to meet the mounting expenditure while due to inflation public is not able to cope with tax increase. Hence the opportunity to fix rates as per their needs, instructions and clarifications is a welcome move. In the present system of fixing of property tax, the general complaint is that the authorities discriminate and levy a less tax by undervaluing high rise buildings. Self assessment system will be transparent and these irregularities will be wiped out. At the same time, property owners will not evade payment of tax, fearing scrutiny and verification by the authorities. It will also create tax conciousness in the minds of the public.

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