BBMP Takes in Rs 4,000 Crore Property Tax This Fiscal Year
Property taxes are likely to be the BBMP’s biggest cash cow during the ongoing financial year as it hopes to mop up Rs 4,000 crore in 2021-22. The civic body has already collected Rs 2,668 crore in property tax this financial year, up by Rs 202 crore earned during the same period last year. Property tax is the major source of revenue for the BBMP, which mostly depends on state government grants for major infrastructure works. Mahadevapura Zone continues to top the list. Home to IT companies, the zone that spans the city’s eastern areas has so far generated Rs 683 crore in property tax. East Zone comes second with Rs 507 crore. At a recent meeting, BBMP Chief Commissioner Gaurav Gupta asked officials to use advanced methods to meet the property tax collection targets. In particular, he asked for bringing new properties into the tax net and extracting dues from top defaulters. Gupta also asked for taking legal action against property tax defaulters and issuing them notices.
Tags : BBMP Property Tax