BBMP office.
Credit: DH File Photo
Bengaluru: The BBMP has collected Rs 2,881 crore in property tax in the first three months of the new financial year, amounting to 45.25% of its Rs 6,256-crore annual target.
During the same period last year, the civic body had collected Rs 1,696 crore.
Apart from Mahadevapura, the BBMP's East Zone also entered the Rs 1,000-crore club, generating the highest property tax revenue among all zones. South and Yelahanka performed well, too, achieving over 47% of their annual targets.
Property tax is a major contributor to the BBMP's exchequer. In addition to improvements in the tax collection system, the sharp rise in revenue could be attributed to the recently introduced garbage tax, which has increased the annual property tax by up to 35%.