SDMC Proposes Hike In Property Tax
The South Delhi Municipal Corporation (SDMC) on December 4 proposed an increase in property tax in its Budget estimates for the financial year 2019-20.
"We plan to increase the earnings of the corporation through various avenues, and one of them is hiking of property tax. There is also a provision to levy a professional tax for the year 2019-20, from which an income of Rs 30 crore is expected for that year," SDMC Commissioner Puneet Kumar Goel told media.
For the Budget 2019-20, the SDMC has proposed to levy property tax on residential properties based on various category of colonies. The proposed rates for residential properties falling under categories A and B is 14 per cent, instead of 12 per cent. For categories C, D and E, the corporation has proposed property tax 12 per cent, instead of 11 per cent. For the F, G and H categories the property tax would be levied at eight per cent, instead of seven per cent. Residential properties are divided in eight categories, and tax on them ranges from 7-12 per cent. The higher the category, the higher the amount one has to pay as property tax.
The SDMC has also proposed to charge 15 per cent property tax on annual values of special commercial non-residential properties and other non-residential properties.