Bengaluru: The BBMP issued a draft notification on Tuesday proposing a new property tax assessment method based on guidance value of the property. The Palike was using Unit Area Value, based on rent value of a property, to assess property tax since 2004. But, in the proposed method, the tax will be fixed on the value of the property.
BBMP has given 15 days’ time to citizens to submit their objections or suggestions to the proposal.If the new system is implemented, property owners who own land at prime locations like Sadashivanagar and MG Road will have to shell out more tax than what they are paying now. tnn
BBMP has given 15 days’ time to citizens to submit their objections or suggestions to the proposal.If the new system is implemented, property owners who own land at prime locations like Sadashivanagar and MG Road will have to shell out more tax than what they are paying now. tnn