Property tax rates hiked

Property tax rates hiked
Deccan Herald

The Bangalore Mahanagara Palike has hiked the annual property tax rates of non-residential structures and properties in the city by 20 per cent to augment its revenues.

The Bangalore Mahanagara Palike has hiked the annual property tax rates of non-residential structures and properties in the city by 20 per cent to augment its revenues. The resolution effecting the increase was approved along with the Rs 1,870.83 crore budget proposals at the BMP council on Monday.

The hike means a revision in the annual rental value of non-residential properties under the prevalent SAS scheme, pending the introduction of Capital Value Scheme.

The BMP has, however, chickened out on its popular proposals - the ban on advertisement hoardings and continuation of free vehicle parking system. It has constituted a five-member committee headed by the Mayor to look into these issues. The deputy mayor, leaders of the ruling Congress and the Opposition JD(S) and BJP are the other members on the committee.

Thirteen more grade separator projects were added to the long list of 14 flyovers/ grade separators/ railway road bridges that figured in the main budget proposals presented on March 24.

The Rs 45 crore set aside for development of concrete roads at the ward level had been distributed at Rs 45 lakh for each ward. The ward grant for the year now stands at Rs 2.5 crore per ward. It is an increase from the Rs 1.5 crore mooted in the main proposals and a two-fold increase over the previous year’s allocation of Rs 1 crore.

Giving substance to the recent controversy on a flyover for easing traffic congestion at the Ramakrishna Ashram Circle, the BMP has struck down the Rs 50 lakh that was proposed for the traffic regulation measures at the circle. The final resolution issue states that the cost of traffic regulation will be borne by the traffic police.

Significantly, the above mentioned additions and re-distributions have seen no change in the size of the budget. The Taxation and Finance Committee headed by Lalitha Srinivasa Gowda has ensured that the final size of the budget too remains at Rs 1,870 crore as proposed initially.