JOIN US5% rebate on property tax in force till June-end in Bengaluru
In a welcome move for property owners in Bengaluru, the state government has announced the extension of a 5 per cent rebate on property tax for the month of June.
A 5 per cent rebate on the property tax, which had expired on April-end, has been extended for the full month of June. In an order issued by the state government on Thursday, the discount will apply to owners who are paying the property tax on or before June 30. Deputy Chief Minister DK Shivakumar termed the move a “gift” to the citizens of Bengaluru.
Generally, the Bruhat Bengaluru Mahanagara Palike (BBMP) offers a 5 per cent rebate on property tax in the first month of the financial year and gets extended by a month. This year, such an extension was not given as the model code of conduct was in place. While the rebate helps the property owners, it also provides cash in the hands of BBMP for clearing pending bills, which are due for works that were done over the last two years.
Extending the 5 per cent rebate on property tax was also a request made by the former mayors who met the Bengaluru development minister on Thursday. The BBMP officials said those who have made the payments in May will get the 5 per cent rebate adjusted to their property tax when they make payment next year.
In the 2023-24 budget, the BBMP has targeted collection of R 4,690 crore from property tax including other cesses. Last year, it had collected over Rs 3,332 crore from property tax. Much of the taxes came from Mahadevapura and the East zones of the BBMP.