BBMP to dig bigger hole in your wallet

BBMP to dig bigger hole in your wallet

Basavaraj Itnaal. Bangalore

Documents available with the DNA show that despite the assurances of the government over the Self-Assessment Scheme, the Bruhat Bengaluru Mahanagar Palike (BBMP) has demanded the introduction of a surcharge on property tax, an infrastructure impact fee, real estate fee, Value Added Tax (VAT), a consumption tax on electricity and liquor, and also the reintroduction of the surcharge on stamp duty. What that possibly means is that once BBMP elections are over, you might have a bigger hole in your wallet. BBMP elections are scheduled to be held, as per court orders, by March 10.
Government sources told DNA that BBMP finances have deteriorated after the formation of Greater Bangalore.
The civic body thus sought higher revenue support from the government, including state grants and newer taxes on Bangaloreans. "The proposal was made in December and is under consideration," said sources.
The infrastructure impact fee, a one-time charge, would be levied on all new constructions. It would be 250 per cent of assessed property tax in case of residential property and 500 per cent in case of non-residential property.