Site icon Realty Beat

Bengaluru citizens oppose new property tax system, Real Estate News, ET RealEstate

Bengaluru citizens oppose new property tax system, Real Estate News, ET RealEstate


Representative Image

BENGALURU: The proposed implementation of the new tax calculation system by the Bruhat Bengaluru Mahanagara Palike (BBMP), aligning with the guidance value, is expected to result in a substantial rise in property taxes across Bengaluru. Concerns have been raised by citizens who believe that this adjustment would impose an increased financial burden.

In response to these concerns, the Bengaluru NavaNirmana Party (BNP) has gathered objections from over 10,000 citizens and is gearing up to initiate a large-scale protest against the introduction of the new property tax system, mobilising tens of thousands of people.

Srikanth Narasimhan, Founder & General Secretary of BNP, said, “The guidance value is primarily intended for commercial transactions. Using the same system for the purpose of Property Tax calculation is completely fallacious and unreasonable. The current system of classifying owners into different zones and fixing differentiated rates for each zone is a better way of calculating Property Tax. BNP demands that BBMP should retain the more reasonable way of calculating Property Tax and should retain the interests.”

Representatives of the BNP recently met with Tushar Girinath, the Chief Commissioner of BBMP, where they voiced their concerns regarding the proposed property tax system. They particularly highlighted the issue given the absence of an elected BBMP Council. Despite the objections and arguments against pegging property tax to the guidance value, Commissioner Girinath conveyed that BBMP intends to proceed with finalising the draft notification within a few days. “In response to this, I made it explicitly clear to the Chief Commissioner that I refuse to comply with the new system’s property tax payment and will actively mobilise tens of thousands of citizens to join in the protest and refrain from paying under the new scheme,” said Narasimhan.

Focusing on the inefficiencies in tax collection by the BBMP, Lalithamba BV, Governing Council Member & Zonal Leader – BNP, Bommanahalli, said, “Bengaluru has lakhs of defaulters, including residential, commercial, and others, who have not been paying Property Tax over a long period of time. BBMP should first ensure that all defaulters pay Property Tax, including all arrears, with interest and penalty. It is imperative and fundamental that BBMP should reveal all the total property details in the city, including how it plans to collect the taxes from the existing defaulters.”

Poongothai Paramasivam, Governing Council Member & Zonal Leader – BNP, said, “BBMP is notorious for its lack of audit & transparency with regard to its accounts and the projects being undertaken for Bengaluru.”

  • Published On Mar 7, 2024 at 09:04 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App




Source link

Exit mobile version