The Karnataka Cabinet on Thursday cleared a proposal and sought to put an end to the confusion over the property tax issue in Bengaluru, saying that it will adjust any excess payment by citizens against future amounts.
However, if property owners have paid less than what they owe, they shall pay a simple rate of bank interest of 11-12% annually over the pending arrears.
The announcement ended the ordeal for 78,000-plus Bengalureans who were served notices for ‘defaulting’ on payment of property tax.
Acknowledging the 'mistake', Law Minister J C Madhuswamy said "both sides were at fault".
"We did not display the zones properly and the residents also wrongly underestimated their zonal levels. In a way, we felt it is wrong to penalise people 3-4 years later," said the minister.
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Published 06 January 2022, 19:07 IST