Bengaluruās municipal corporation reports high earnings from property taxes.
Story so far: The Bruhat Bengaluru Mahanagara Palike (BBMP) collected ā¹3,332 crore in 2022-2023 against ā¹3,088 crore in the previous financial year. The civic body had expected ā¹4,000 crore in the 2022-2023 financial year. Specifically, thereās been an uptick in BBMPās property tax collection.
- From March 27, BBMP introduced a one-time settlement scheme for six months for state and central government agencies and their undertakings to pay their dues. It could help BBMP earn between ā¹300 crore and ā¹700 crore.
- In the current financial year, the BBMP hopes to increase its property taxes. It claims to have a robust collection system.
The way forward: BBMP officials bemoan owners who avoid paying taxes or submit lesser amounts by falsely reporting their commercial properties as residential. The Palike will inspect Bescom meters and self-assessment tax reports to mitigate this. They will also cover more properties.