GHMC readies up new property tax collection model in Hyderabad
Hyderabad: Days after prohibiting the pasting of unauthorised wall posters and graffiti on roadside compound walls to improve the aesthetics and maintain cleanliness in the city, the Greater Hyderabad Municipal Corporation (GHMC) is now working on modalities for the efficient collection of property tax.
Currently, the civic body follows an annual or bi-annnual — April to September and October to March cycles — property tax collection system. This will change soon as it is bringing in a new collection model in which property owners would be required to pay their taxes monthly.
The draft proposal recommends the collection of property tax on a monthly basis and the annual property tax will be divided into 12 installments making both the payment and collection of taxes efficient and manageable.
It is not clear if GHMC would offer any rebate for the property owners who choose this tax collection model and penalty for the defaulters. It is said the civic body is discussing whether to continue the ‘Early bird scheme’. This scheme offers a five percent rebate on early payment of property taxes.
