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Living on outskirts? Pay more tax [TOI 27th February 2013]
The BBMP has not increased your property tax, but if you fall under the reclassification of zones, you will end up paying more. The BBMP council on Tuesday approved the reorganization of six zones for tax collection. The process will take effect after the state government approves the proposal.
If you live on the city’s outskirts — areas that come in the C, D, E and F tax zones — your property might come under B zone, based on the real estate development in the locality. This means that citizens have to pay more tax than before.
The BBMP has divided the city into six zones depending on the guidance value of properties based on location. Presently, tax paid for properties of same dimension in different zones is not the same. For instance, a technology park in Mahadevapura, which comes under C zone, pays less compared to a property on Vittal Mallya Road, which falls in A zone.
With Bangalore’s outskirts growing rapidly, the BBMP has realized the need to reorganize the tax zones in order to earn more revenue from taxpayersliving in these areas.
The move is expected to earn the civic body an extra revenue of Rs 150 crore. Though tax slabs were supposed to be revised once in three years,theBBMPhasleftthem untouched since 2005. Only tax slabs for commercial properties were revised in 2008, the increase being 20%.
Though the proposal to hike property tax was to be tabled in the council on Tuesday, it was opposed by a majority of corporators, keeping the forthcoming assembly elections in mind.