The Greater Hyderabad Municipal Corporation (GHMC) has missed its tax collection target for 2021-22 by Rs 175 crore, according to the latest reports.
The civic body has collected Rs 1,458 crore during the ongoing financial year (2021-22) as compared to Rs 1,633 crore collected during the previous financial year (2020-21).
A press release from the GHMC states that there are about 17,72,503 assessments in the GHMC, of which 12.55 lakh property owners paid the tax. The civic body collected around Rs 250-Rs 275 crores from the one-time settlement (OTS) program in 2021.
A waiver of 90 per cent of accumulated interest on the arrears of the property tax was granted if the arrears were cleared all at once. Only Rs 1,455 crore was collected by the civic body during the current financial year, while its target was set to be Rs 1,850 crore.
On the basis of the current trend, GHMC will not be able to generate more than Rs 50 crore in three days, said a senior GHMC official. During 2019-20, the civic body generated Rs 1,472 crore, while during 2018-19, it generated Rs 1,419 crore.
According to him, over four lakh properties are not assessed in the city, adding an additional Rs 200 crore to the corporation’s account.
The GHMC will announce the early bird rebate scheme in the meantime. The official said that the GHMC will launch an early bird scheme offering a five per cent rebate to those who pay property tax for 2021-22 starting from April 1.
ALSO READ: Telangana: Tax collections increase by 44 per cent
Previously, this facility had been only available to property owners whose annual amount did not exceed over Rs 30,000 and only for residential properties. As a result of the increasing demand, the government has extended it to commercial properties in 2021-22, he added.
(This story has been sourced from a third-party syndicated feed, agencies. Raavi Media accepts no responsibility or liability for the dependability, trustworthiness, reliability, and data of the text. Raavi Media management/ythisnews.com reserves the sole right to alter, delete or remove (without notice) the content at its absolute discretion for any reason whatsoever.)
