HeadlinesKarnatakaMysorePropertyTaxes

MCC records highest property tax collection in 2021-22: Minister MTB Nagaraj

Prime News, Karnataka, Property, Taxes, Mysuru/Bengaluru, March 16:- Amidst the Covid-19 pandemic in the country, the Mysuru City Corporation (MCC) recorded the highest property tax collection of Rs 133.5 crore in Karnataka in 2021-2022.

According to data presented in a written reply by MTB Nagaraj, Minister for Municipal Administration and Small Scale Industries, during question hour in the Legislative Council on Tuesday (March 15), the tax collection in Mysuru was the highest in 2018-2019 and 2019-2020 which is Rs 95.48 crore and Rs 97.68 crore respectively.

Replying to a question by Congress member K Govindaraju, the minister said stringent action would be initiated against local bodies that have erred in property tax collection. Overall, while Rs 711.18 crore property tax was collected in 2018-2019, Rs 736.77 crore was collected in 2019-2020. In 2021-2022, a total of Rs 841.72 crore was collected, according to the minister’s written reply.
Nagaraj also said property tax collection is based on the self-assessment scheme. Under the Karnataka Municipalities Act, property tax for commercial buildings is collected at a minimum rate of 0.5% and a maximum rate of 3%. For residential and non-commercial buildings, the property tax rate is between 0.2% and 1.5% and between 0.2% and 0.5% for vacant sites. (AM)

Leave a Reply

comments

Tags

Related Articles

error: