Page 2 - Property Tax

Mumbai: No tax on residential properties up to 500 sq ft, says Uddhav

Property tax on residential units of up to 500 sq ft, located within the Mumbai municipal area limits, will be waived off, Maharashtra Government said on Saturday. Chief Minister Uddhav Thackeray announced the decision at a meeting of the urban development department earlier in the day, an official release said. The waiver comes ahead of Mumbai municipal corporation elections due next month. The CM has asked the administration to implement the decision with immediate effect, the release said. It quoted Urban Development Minister Eknath Shinde as saying that the decision will benefit owners of over 16 lakh houses below 500 sq feet in Brihanmumbai Municipal Corporation (BMC) limits. Shinde said the Shiv Sena, which rules the BMC, has fulfilled an important assurance it gave ahead of the 2017 BMC elections. Thackeray on Saturday chaired a virtual meeting with Shinde, Mumbai district guardian minister Aslam Shaikh, Mumbai suburban district guardian minister Aaditya Thackeray, Mayor .

China finance minister urges deeper property tax reforms: Report

China's property market has been a key driver of the country's economic growth, but it has been hit this year by tighter regulations and a liquidity crisis

No property tax hike in NDMC budget due to the Covid-19 pandemic

The North Delhi Municipal Corporation is not proposing any increase in property tax in its budget in view of the financial strains faced by people due to the COVID-19 pandemic

SDMC proposes increase in property tax to boost revenue; AAP opposes

The proposal in the budget comes ahead of civic polls due next year

China widens property-tax trials with levy on residential property owners

The plan, approved by the National People's Congress Standing Committee, China's top legislative body, is designed to guide rational property buying and will last for five years

China to test levying property tax in some cities amid Evergrande crisis

China has decided to pilot testing property tax levies in selected cities during the coming five years, to garner experiences before proceeding with formal legislation, reported local media.This comes when China's second biggest real estate developer Evergrande is marred with debt it cannot pay back.China's top legislature, the Standing Committee of the National People's Congress (NPC), adopted the decision on Saturday to authorise the State Council, the cabinet, to pilot property tax levies in some regions, Global Times reported citing Xinhua News Agency.A trial property tax could be tested by the end of this year in selected first and second-tier cities, said industry experts stressing that testing will be possible in the cities that have hot real estate markets, most likely in Guangdong's Shenzhen, Zhejiang's Hangzhou, and the southern island province of Hainan.Since 2011, the Chinese central government tried out levying the taxes on high-end private residential properties in ...

China's Xi calls for progress on property tax in drive for prosperity

China, still an avowedly socialist country, has vowed to reduce inequality after years of breakneck growth while stressing that people should still work hard to create wealth

NDMC extends last date for payment of property tax with rebate to July 31

The North Delhi Municipal Corporation has extended the last date for payment of property tax with 15 per cent rebate and additional benefit, to July 31, its mayor said on Friday. The last date earlier was July 15. North Delhi Mayor Raja Iqbal Singh said the NDMC has extended the last date of payment of property tax with 15 per cent rebate, along with 3 per cent 'COVID-19 vaccination' incentive for the year 2021-22. As per the 'COVID-19 vaccination' incentive, if all eligible members in a family have been fully vaccinated, then an additional rebate can be enjoyed, over and above the main rebate. Singh said that extension of date would facilitate the genuine taxpayers who could not do it earlier. On the other hand, the corporation would get more revenues and enthusiasm of people for vaccination would also increase hence this decision has been taken in the interest of the public, he added.

K'taka waives property tax on all single-screen theatres for FY 2021-22

Karnataka on Wednesday ordered a complete waiver of property tax on single-screen theatres for the 2021-22 financial year.

49 defaulters owe Rs 107 crore in property tax to Navi Mumbai civic body

A total of 49 defaulters owe Rs 107 crore to the Navi Mumbai Municipal Corporation (NMMC) in the form of property tax and the civic body has issued notices to them, an official said

Check 'rental value fit' when you are investing in house, say analysts

This is the amount that a typical tenant drawn to a locality is prepared to pay

SDMC launches mobile app for property taxpayers in Delhi amid coronavirus

A new mobile application was on Thursday launched by the South Delhi Municipal Corporation to facilitate people in paying property tax online amid the ongoing coronavirus pandemic, officials said. The new app has been made for all three city corporations, the SDMC said in a statement. "In order to facilitate property taxpayers, South Delhi Municipal Corporation today launched a new mobile application. This application has been launched for property taxpayers of all three municipal corporations," it said. The motive behind launching of the application is to provide an easy, hassle-free platform for payers of property tax during the pandemic, the civic body said. "Now, citizens can make payment while staying at home. The SDMC, the nodal agency for all three corporations (South, North & East) for this work, has developed the application with the help of National Informatics Centre (NIC)," it added. People can download the link to the app available at the corporation's website ...

AAP alleges property-tax collection scam by NDMC worth Rs 1,400 crore

The Aam Aadmi Party claimed on Monday that the BJP-ruled North Delhi Municipal Corporation had done a scam worth Rs 1,400 crore in the collection of property tax.

India's Interventionist State: Bolster govt capability, reform management

Building state capability is not an easy process, especially in a democratic setup

15th FC urges states to tax property and professions more to boost finances

The Finance Commission has also advised the union govt to eschew cess to keep Centre-state tax pool in good health, and go for a Constitutional amendment to help states raise profession tax limit

AAP claims North MCD to propose hike in property tax, BJP refutes charges

AAP spokesperson Saurabh Bhardwaj claimed that BJP-ruled municipal corporations are forgoing parking fee collected in its municipal areas from contractors

The payment woes of the Municipal Corporation of Greater Mumbai

Reports suggest that contractors and vendors could set off their dues, such as property tax and penalties imposed by MCGM, using credit notes

Telangana waives off 50% property tax to ease financial struggles

As part of the tax waiver plan, all the domestic households who have to pay property tax up to Rs 15,000 in Greater Hyderabad Municipal Corporation (GHMC) limits will benefit a 50 per cent reduction

Rajinikanth pays property tax, says rushing to court was a mistake

Rajinikanth paid Rs 6.56 lakh property tax for his marriage hall and said an appeal should have been made to the city corporation and the "mistake" of rushing to court could have been avoided

Maharashtra: Serving, former soldiers exempted from panchayat property tax

All serving and retired soldiers in Maharashtra will be exempted from the Gram Panchayat property tax, Rural Development Minister Hasan Mushrif announced on Wednesday