Karnataka - Bangalore   

20 per cent increase in property tax

BANGALORE: The State Cabinet on Tuesday approved the Self-Assessment Scheme (SAS) for collection of property taxes in Bangalore City thus giving a burial to the controversial Capital Value System of tax collection.

Briefing presspersons after a Cabinet meeting chaired by Chief Minister B.S. Yeddyurappa, Home Minister V.S. Acharya and Law and Parliamentary Minister Suresh Kumar said an Ordinance would be promulgated for a retrospective implementation of the SAS from April 1, 2008 in the limits of the Bruhat Bangalore Mahanagara Palike (BBMP).

Under the modified SAS, the rate of tax will be enhanced by 20 per cent to meet the growing needs to provide infrastructure facilities and taking into account the fact that the property taxes had not been revised in the last eight years. Considering the depreciation in value of old buildings despite the enormous jump in real estate prices, the panel had favoured 50 per cent concession to people using the property for own residential purposes. Existing rates would be doubled for vacant sites, they said.

The Cabinet sub-committee headed by Transport Minister R. Ashok had recommended to the Government to bring back SAS with the increase of 20 per cent increase in property tax rates. The SAS was introduced by the then S M Krishna government in 2000.

The JD(S)-BJP Government had sought to bring the CVS in place of the SAS in Bangalore and all other urban civic bodies.

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