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Karnataka
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Bangalore
Property tax Ordinance promulgated
Staff Reporter
Bangalore: An Ordinance enabling the Bruhat Bangalore Mahanagara Palike (BBMP) to collect the property tax based on Annual Ratable Value (ARV) instead of Capital Value System (CVS) was been promulgated by Governor Rameshwar Thakur recently.
The State Government, through the Ordinance, has amended Section 108 of the Karnataka Municipal Corporations Act, 1976, allowing the Bruhat Bangalore Mahanagara Palike to introduce Annual Ratable Value system as against the Capital Value System being followed in other municipal corporations in the State. According to officials, the State Government will now have to issue a final notification after publishing draft rules based on the Ordinance and inviting suggestions and objections from the public.
Final rules
The Bruhat Bangalore Mahanagara Palike can proceed on property tax collection only after publication of final rules by the State Government, said an officer pointing out that property tax collection might begin by November end or early December depending on the publication of final notification by the State Government.
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