Property tax relief for industries?

Property tax relief for industries?

The state government is likely to provide relief to the industrial units by revising the rate of property taxes being levied on them by the urban local bodies. 

Industries Minister Jagadish Shettar on Wednesday held talks with Urban Development Minister B A Basavaraja on this matter. 

According to a statement, the ministers discussed how city corporations and local bodies, for many years, have been issuing demand notices to industrial units located in industrial areas developed by the KIADB and KSSIDC.

“Industries are already in distress. So, officials were directed to prepare a proposal for Cabinet approval to amend the existing law on deciding the property tax to be levied before and after handing over industrial areas to the local bodies,” the statement said. 

With this, the government might consider introducing a separate property tax slab for industrial units coming under municipal limits. 

Officials were also directed to submit a proposal for the approval of the Cabinet on establishing industrial townships in the state. “Officials from the departments of Urban Development and Commerce and Industries should sort out the legal bottlenecks soon,” the statement said.