Unique Program Offers 90% Exemption from Property Tax Arrears
The government has announced a One Stop Scheme (OTS) to settle outstanding property tax arrears within the boundaries of the Greater Hyderabad Municipal Corporation and all other urban local bodies in Telangana. Under this scheme, a taxpayer will benefit from a 90% exemption on the payment of interest, provided that the amount of the principal plus 10% of the interest on the accumulated arrears is paid in one installment.
For citizens who have paid their property tax in full with interest arrears and penalties until March 2022 of the current year before the existing regime, 90% of these penalties/interest will be adjusted according to the payments future, said official orders issued by Secretary of Municipal Administration and Urban Development C. Sudarshan Reddy.
The decision was made after City Administration Director N. Satyanarayana and GHMC Commissioner Lokesh Kumar informed the government that property tax arrears in urban local bodies in Telangana reached ₹1,999.24 crore and that the amount of interest amounts to ₹1,626.83 crore at the end. of the 2021-22 financial year.
Thus, they came up with the OTS for the benefit of taxpayers. The system must be resumed in mission mode and be the subject of adequate publicity before October 31, 2022. The Secretary asked the municipal elected officials concerned to set up a daily monitoring mechanism and to ensure that the OTS is achieved transparently.
In a separate circular, Satyanarayana ordered municipal commissioners in all urban areas to hold fiscal melas on Tuesdays, Thursdays and Sundays as part of the OTS. Taxpayers should be notified of their arrears by telephone, messages, advertisements in print media and scrolls in electronic media, he added.