Property Tax in 61 new ULBs to increase by 5 per cent in current year

The property owners of the newly constituted 61 Urban Local Bodies (ULBs) in Telangana have to bear an additional burden of a five per cent increase in property tax for the current financial year.TheTelangana State Property Tax Board (TSPTB) chairperson and director of Municipal Administration, T K Sreedevi convened a meeting of the TSPTB a few days ago where the regional director cum appellate commissioner of Municipal Administration department, Hyderabad informed to TSPT Board that five per cent hike in property tax has to be made in the 61 newly constituted municipalities as per Panchayat Act. The TSPT Board has been directed to study and issue instructions to the Municipal Commissioners of 61 newly constituted ULBs to confirm on increase of five per cent property tax during the current financial year and take action for collection of the same. As many as four to five lakh properties would be impacted with additional increase in property tax.  The Board also expressed displeasure with poor tax collections in the new 61 ULBs and directed the municipal commissioners to improve the property tax collections which are the major source of revenue to the ULBs for taking up developmental works in the respective municipalities. Of the total demand of Property Tax in newly constituted municipalities which is about Rs 81.50 crore, the collection is around Rs 22.50 crore which is around 27.50 per cent collection which is less as there is just three months left for the current financial year (2018-19) to end on March 31.