Business & Economy

Bengaluru Unveils New Property Tax System to Enhance Revenue, Faces Citizen Concerns

Bengaluru, Karnataka: Deputy Chief Minister and Bengaluru Urban Development Minister DK Shivakumar unveiled a new property tax collection system on Monday, set to be implemented from April 1. The initiative aims to simplify and rationalize the taxation process while bolstering revenue for the Bruhat Bengaluru Mahanagara Palike (BBMP).

The move comes in response to challenges faced by citizens under the previous Unit Area Value (UAV) property tax system, introduced in 2008. With the city divided into six zones and 18 property categories, varying tax rates based on guidance values led to disparities and confusion among taxpayers.

Addressing these concerns, the new system seeks to streamline tax collection and eliminate discrepancies. Tushar Giri Nath, BBMP chief commissioner, emphasized its benefits for all property taxpayers, highlighting its role in rationalizing tax collections across the city.

However, despite the intentions behind the new system, some citizens have raised concerns about its fairness and transparency. Many argue that the taxation structure fails to account for differences in amenities and services provided across different zones.

Kiran Kumar, a member of Changemakers of Kanakapura Road located in zone F, expressed concerns about the uniform tax collection policy. He noted disparities in access to essential services, such as Cauvery water supply, and questioned the fairness of charging the same tax rates across all zones.

In response to such concerns, Deputy Chief Minister Shivakumar announced a one-time settlement option for taxpayers who have previously not paid taxes. This initiative aims to encourage compliance and facilitate fair tax distribution.

As the implementation date approaches, stakeholders continue to engage in discussions about the new property tax system, seeking to ensure that it serves the interests of all citizens while effectively supporting BBMP’s revenue goals.

dk-shivkumar-bangalore.jpg

Related posts

Petroleum Dealers Urge Phased Reduction in Fuel Prices to Mitigate Financial Challenges

Ravi Malhorta

Petrol price in India reaches a record high.

Aishwarya

Bihar’s ‘Make in India’ success- Electric Locomotive Production Empowers Madhepura’s Communities.

Ruchitha B.C

Fatal error: Uncaught Error: Call to undefined function Smush\Core\Parser\str_contains() in H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\parser\class-parser.php:373 Stack trace: #0 H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\parser\class-parser.php(358): Smush\Core\Parser\Parser->sanitize_value() #1 H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\parser\class-parser.php(157): Smush\Core\Parser\Parser->is_safe() #2 H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\parser\class-parser.php(120): Smush\Core\Parser\Parser->get_element_attributes() #3 H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\parser\class-page-parser.php(35): Smush\Core\Parser\Parser->get_elements_with_image_attributes() #4 H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\transform\class-transformer.php(53): Smush\Core\Parser\Page_Parser->parse_page() in H:\root\home\klminstitute-001\www\theoligo.com\wp-content\plugins\wp-smushit\core\parser\class-parser.php on line 373