Bengaluru: In a major boost to the financials of the BBMP, which was forced to depend upon the state government for all the developmental works, there is a significant improvement recorded in the property tax collection compared to the last year. Between April 1 and August 4, the BBMP was able to collect Rs.1,948 crores in the form of property tax collection. Last year it was Rs. 1,754.40 crores.
Originally the BBMP fixed a target of Rs.3,500 crore property tax collection for this financial year. Now it has been revised to Rs.4,000 crores.
“Highest tax collected was Rs.1,000 crores when the BBMP offered 5% rebate for the early birds who pay taxes,” informed BBMP sources.
Highest tax is collected in Mahadevapura zone which is considered as the IT hub of the city with Rs.487.15 crores followed by East zone from where Rs. 387.56 crores have been collected.
