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Ahmedabad Offers Monsoon Rebate On Tax Bills
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People of Ahmedabad have won as the battle against high property tax. The Ahmedabad Municipal Corporation (AMC) has finally agreed to reduce the property tax after they faced rising public ire over over hiked property tax bills. The AMC has decided to give a huge 'monsoon' discount to owners of property in Ahmedabad who had paid hiked property tax bills.
The standing committee set up by AMC has announced recently that owners of properties in Ahmedabad both residential as well as commercial who had received hiked bills would now be offered a 50% rebate over the hiked bill. After hike in bills more than 8 lakh owners of properties in Ahemdabad had received hiked bills. The hike was introduced because of the AMC had decided to include the revised 2011 Jantri rates for tax calculations. The civic authority has assured all those who have already paid the hiked bills that the 'Monsoon' rebate will be credited to the next bill which will be issued in the next financial year.
Those people who own property Ahmedabad and have still not paid the bill will soon revive a revised bill. The new bills will be dispatched in the next few months. Till last financial year, the property tax department had maintained records of 17.89 lakh properties in Ahmedabad. The recent hike in property taxes has affected 47% of these property Ahmedabad, of which 8.44 lakh were residential properties in Ahmedabad and commercial units. But revision in rates also saw reduced tax bills for 62,000 properties in Ahmedabad. Around 8.91 lakh properties Ahmedabad reported no hike or reduction.
The hiked bills were going to create a revenue of Rs 96.92 crore for tax officials but the rebate will cause Rs 63 crore less in revenue. This reduced tax structure will prevail for all the budget years until the municipal commissioner does implement a new tax structure. Tax officials are assesrting the section 8B in the Gujarat provincial municipal corporation Act (GPMC) state that a hike in taxes has to be done once every four years, this criteria has also been fulfilled after thr civic authorities have offered a 50% rebate.
Tax officials also said that for more than 4 lakh owners of properties in Ahemdabad, the factor 'F 4' formula has been reduced from '2' factor to '1' which has led to bill reduction by 50%. All those owners of Ahmedabad property who have filed their advance tax will get a 10% rebate on the property tax bills.
Makaan.com is India's fastest growing site that deals with real estate India. The property site lists India property and property in Ahmedabad.
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