In a recent announcement, the state government of Karnataka has confirmed that there will be no revision of property tax rates in Bengaluru for the fiscal year 2024-25. The government emphasized that the computation method implemented in 2016 will remain unchanged.
This clarification follows earlier statements indicating the potential implementation of a new guidance value-based property tax calculation method starting April 1, 2024, which raised concerns about significant tax hikes.
Reports from March 12 suggested that the government would refrain from making any alterations for the upcoming fiscal year due to political considerations surrounding the Lok Sabha elections and the delayed update of the BBMP’s tax management software.
Deputy Chief Minister DK Shivakumar took to social media platform X on Monday to address the spread of fake news regarding property tax increases. He reassured Bengaluru residents that the BBMP has not raised property tax rates, affirming that they will remain consistent with the 2016 rates. Shivakumar urged residents to disregard any rumors suggesting otherwise.
In response to Shivakumar’s statement, BBMP Chief Commissioner Tushar Giri Nath announced that action would be taken against individuals spreading false information online, with instructions issued to the city police commissioner to address the dissemination of fake news.
A citizen’s video shared on Instagram on March 13 claimed an imminent increase in property taxes, sparking concerns among taxpayers. Nath clarified that the assertions made in the video were unfounded, urging property owners not to be alarmed by such misinformation.
