Hyderabad: The government of Telangana on Saturday declared a 50 percent domestic property tax waiver in the city of Hyderabad and 140 additional places over the state as a Diwali gift, in the midst of financial troubles being faced by individuals in times such as the COVID-19 pandemic.
Municipal Administration Minister, K.T Rama Rao said: “As a Diwali gift, we have decided to give some relief to people on property tax.”
As a portion of the tax waiver plan, all the domestic households who need to pay property tax up to Rs 15,000 in Greater Hyderabad Municipal Corporation (GHMC) limits will benefit from a 50 percent decrease.
Up to 13.7 lakh families will be benefited from this in Hyderabad city, weighing down the state government by Rs 196.4 crore.
Rao stated: “In other towns, up to 140 towns, we are extending a relief of 50 percent on property tax up to Rs 10,000.”
This move will be benefiting 17.6 lakh households and depriving the state government of Rs 130 crore.
Over the state, 31.4 lakh families will remain to benefit with this Diwali property tax bonanza, adding up to Rs 326.4 crore.
Rao said that he hopes that people will be happy on this Diwali day.
He additionally explained that in case of any taxpayer already paying 100 per cent property tax, the deduction will be adjusted in the following year.
In the cabinet meeting on Friday night, many issues were talked about and several decisions were taken, the Municipal Minister said.
Chief Minister K. Chandrasekhar Rao and different Ministers discussed that the financial situation of individuals as well as governments has turned upside down in light of the COVID-19 pandemic, prompting to everyone struggling.
When talking about the advancements leading to the tax waiver, he said, “It was discussed that some more help should be extended to people. Because everybody’s position is not good this year. The CM asked us what more could be done to give more relief.”
