Bengaluru: Traders demand property tax relief, BBMP turns down plea | Bengaluru News – Times of India
Gupta said BBMP is not in a position to give any discount. “To address the Covid-19 situation, we hired a lot of people on contract and hired several vehicles too. In this situation, it’s impossible to give any discount in property tax,” he said.
As on May-end, BBMP has collected Rs 1,320 crore in property tax. For 2021-22, BBMP estimates to mop up Rs 3,353. BBMP estimates revenue/funds of Rs 9,286 crore this financial year and 36% comes via property tax.
A senior BBMP officer said, “We have pending bills amounting to over Rs 3,000 crore for civic works completed and ongoing works worth Rs 7,000 crore. These liabilities have pushed us to take difficult decisions.”
BBMP extended tax rebate of 5% on property tax if it’s paid in one instalment by June-end.