123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL Real-Estate-and-Foreclosure >> View Article

Ahmedabad Offers Monsoon Rebate On Tax Bills

By Expert Author: vinay kumar

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.

Total Views : 122Word Count Appx. : 439See All articles From Author

Real Estate and Foreclosure Articles

1. Buy A Homely Home At Affordable Prices In Michigan
Author: Lewis/Klein

2. New Freehold At Shan Road
Author: David Tan

3. Discover Homes For Sale With Water View Laguna Niguel Ca At Affordable Rates
Author: jonny smith

4. North Kolkata, Home To The Booming Realty Market Of Bengal
Author: Rashmi Karan

5. Experience The Joy Of Living In South Delhi
Author: Arthi Ram

6. Management Network 5 Easy Ways To Save Money
Author: arturogarcia

7. Are You Looking To Buy A Flat In Chennai? Look To The Suburbs
Author: Shaam

8. Barrackpore Trunk Road (b.t Road) - A Developing Residential Zone Of Kolkata North
Author: Aakanksha Pasricha

9. Alaska Real Estate What You Need To Know Before Trying To Invest In It?
Author: Dan

10. Residential Market Scenario Of Sholinganallur
Author: Aakanksha Pasricha

11. Offering Affordable Homes, East Coast Road Is New Address For Homebuyers Of Chennai
Author: Rashmi Karan

12. Mid Income Homebuyers Flock Towards North Kolkata
Author: Rashmi Karan

13. The Great Way To Find The Best Home Buyer
Author: cashforhousescolorado

14. Park Place Residences
Author: David Tan

15. Singapore 12 On Shan
Author: David Tan

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: