Bengaluru: Here is a shocking news for the city residents. If everything goes as per the plan, the property tax in the city will go up by between 25 to 30 percent in the financial year 2019.
According to sources in the BBMP, its revenue department has submitted a proposal in this regard. The proposal is under the review of the BBMP Standing Committee on Taxation.
As per the proposal, the BBMP wants to review the residential property tax by 25 percent while commercial property tax by 30 percent. “It wants a revision from the next financial year. The major reason attributed to the revision proposal is an increase in the cost incurred to improve the city infrastructure,” informed an officer.
It may be recalled that in BBMP, the Congress-Janata Dal (S) alliance is in power. “JDS and Congress corporators are opposing the proposal as it may affect the party in the 2019 general election,” explained an officer privy to the developments.