Sunday, June 28, 2009

Pay your property tax by Tuesday

Pay your property tax by Tuesday

If you pay the levy before June 30, you can avail of 5 per cent rebate; otherwise, arrears would carry 2 per cent penal interest per month

Basavaraj Itnaal and Senthalir S. Bangalore

Only two days are left to pay the first installment of property tax without penalty.
If paid before June 30, people can enjoy a rebate of 5%, otherwise, arrears would carry a penal interest of 2% per month.
To help people pay their taxes before June 30, BBMP has decided to open help centres today. "As the deadline is nearing, the help centres would be open on Sunday from 9.30am to 2pm. People can drop in and pay their taxes. We have so far collected more than Rs700 crore," said UA Vasanth Rao, deputy commissioner (resources), BBMP.
BBMP has started collecting property tax after a gap of one year under the self-assessment scheme (SAS).
Though a capital value system CVS) was mooted, the government bowed to public pressure and retained SAS. The only modification to SAS being the penal rate of interest. This was 5% per year; it has now been increased to 2% per month. BBMP revenue officials say the tax can be paid at all citizen service centres and citizen help centres.


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