Date:08/04/2006 URL: http://www.thehindu.com/2006/04/08/stories/2006040823420400.htm

Karnataka - Bangalore

BMP seeks cooperation of commercial building owners on property tax

Staff Reporter

BANGALORE: The Bangalore Mahanagara Palike (BMP) Commissioner K. Jothiramalingam has announced that the 20 per cent hike in property tax rates for commercial buildings will be collected with effect from April 1.

According to a release, the delay in introducing the new property tax scheme based on the capital value of a building has forced the BMP to increase the rates for commercial property. "The existing self-assessment scheme (SAS) of property tax will continue as of now. But the rates will be 20 per cent more for commercial buildings," the release said. The commissioner has requested all commercial property owners to cooperate with the BMP by paying the extra tax. "This will be your contribution towards the development of the city," the release added.