SDMC proposes increase in property tax to boost revenue
New Delhi Nov 23 PTI Seeking to augment its revenue the South Delhi Municipal Corporation SDMC on Tuesday proposed in its budget to increase property tax levied on residential and commercial properties and reduce the number of rate slabs from threeResidential commercial and non-residential plots of up to 150 sqm are currently divided into three categories in the city — A-B C-E and F-H categoriesI propose that for the financial year 2022-23 the number of categories should be reduced from three to two A-E and F-H in this category said SDMC Commissioner Gyanesh Bharati while presenting revised budget estimates for 2021-22 and budget estimates for 2022-23 at the Civic Centre hereThe budget has proposed increase in property tax as follows 14 per cent tax in for residential properties in A-E category and 12 per cent in F-H category Presently 15 per cent tax is charged in A-B category 11 per cent in C-E category and seven per cent in F-H category a senior official saidSimilar for commercial category in A-D category it is proposed to be 15 per cent and 12 per cent in E-H category and for special category it is 20 per cent the official saidThe current rates are 15 per cent tax in A-B category 12 per cent in C-E category and ten per cent in F-H category the official saidBharati said that property tax rates in A through E slabs have not been raised in the last 10 yearsThe commissioner also said that to mark the occasion of 75th year of Indias Independence Shaheedi Park and Bollywood Park are to be developed on the lines of the Bharat Darshan ParkThe budget comes ahead of civic polls due next yearLater the commissioner also took questions from reportersAsked if the proposal to increase property tax is not approved by the legislative wing of the corporation how will it meet the revenue requirements Bharati said We will then have to go for the PPP modelAccording to the budget SDMC has been disposing of 51 lakh metric tonne legacy waste and is likely to dispose of 100 per cent legacy waste by December 2023Our Swachh rank will improve once we do 100 per cent waste collection segregation and processing he told reporters PTI KND ANB ANB
New Delhi Nov 23 PTI Seeking to augment its revenue the South Delhi Municipal Corporation SDMC on Tuesday proposed in its budget to increase property tax levied on residential and commercial properties and reduce the number of rate slabs from threeResidential commercial and non-residential plots of up to 150 sqm are currently divided into three categories in the city — A-B C-E and F-H categoriesI propose that for the financial year 2022-23 the number of categories should be reduced from three to two A-E and F-H in this category said SDMC Commissioner Gyanesh Bharati while presenting revised budget estimates for 2021-22 and budget estimates for 2022-23 at the Civic Centre hereThe budget has proposed increase in property tax as follows 14 per cent tax in for residential properties in A-E category and 12 per cent in F-H category Presently 15 per cent tax is charged in A-B category 11 per cent in C-E category and seven per cent in F-H category a senior official saidSimilar for commercial category in A-D category it is proposed to be 15 per cent and 12 per cent in E-H category and for special category it is 20 per cent the official saidThe current rates are 15 per cent tax in A-B category 12 per cent in C-E category and ten per cent in F-H category the official saidBharati said that property tax rates in A through E slabs have not been raised in the last 10 yearsThe commissioner also said that to mark the occasion of 75th year of Indias Independence Shaheedi Park and Bollywood Park are to be developed on the lines of the Bharat Darshan ParkThe budget comes ahead of civic polls due next yearLater the commissioner also took questions from reportersAsked if the proposal to increase property tax is not approved by the legislative wing of the corporation how will it meet the revenue requirements Bharati said We will then have to go for the PPP modelAccording to the budget SDMC has been disposing of 51 lakh metric tonne legacy waste and is likely to dispose of 100 per cent legacy waste by December 2023Our Swachh rank will improve once we do 100 per cent waste collection segregation and processing he told reporters PTI KND ANB ANB
