New board to decide property tax

New board to decide property tax

The Legislative Assembly on Wednesday approved the Karnataka Municipal Corporations and Certain Other Laws (Amendment) Bill, 2011, seeking to set up the Board.

The Bill will be tabled in the Legislative Council for its approval.

Presently, the ULB councils fix the property tax rates in their jurisdiction.

The proposed Bill provides the Board powers to review the property tax system in all ULBs and suggest a suitable basis for capital valuation of properties, or the annual taxable value.
The Board will create a database of properties by conducting an enumeration and assist ULBs in fixing the rates for any zone or area or any class of building.

The Board will be headed by a chairman, an officer not below the rank of secretary, and four members who have knowledge and experience in municipal administration, valuation of properties and urban planning. Their term will be for five years. The State government will make appointments to these posts.