HYDERABAD: The state govt on Wednesday issued a GO ordering waiver of 90% on interest charged on accumulated arrears of property tax.
The waiver is applicable to both private and government properties within the Greater Hyderabad Municipal Corporation (GHMC) limits as well as other ULBs under the ‘One Time Scheme’ (OTS).
To avail the benefit, taxpayers must clear the principal amount of property tax dues until the financial year 2022-2023, along with a one-time payment of 10% interest on accumulated arrears. The scheme’s benefits will also be extended to those taxpayers who have already settled their entire property tax dues, including interest and penalties, up to March 2023 during the current financial year before the implementation of this scheme. For such individuals, 90% of the interest paid earlier will be adjusted against future payments. The move aims to provide relief to property owners and encourage timely settlement of dues.
