With two days left for paying property tax for the first half year without penal interest, GVMC has realised 25 per cent of the target for 2016-17.
The property tax paid so far in the financial year is Rs.49.4 crore against a target of Rs. 194 crore.
While a 5 per cent incentive is offered if the entire property tax for the year is paid in the first month of the financial year, a two per cent simple penal interest is levied on payment after June 30 for the first half-year.
With the last date approaching for paying without interest the collection during the last few days was about Rs.2 crore.
On Tuesday, it was Rs.2.73 crore, much higher than the Rs.2.22 crore the previous day, said sources. Officials expect the collection to further peak during the next two days.
During the current financial year, the property tax payment without interest was better than in 2015-16.
The collection up to June 30 in 2015-16 was Rs.31.57 crore against the year’s target of Rs.186 crore.
Payment to get the early bird incentive has also gone up this year compared to last year.
In 2015-16, Rs.10.89 crore was paid till May 31 (the offer was made late) to get the early bird incentive and this year Rs.17.54 crore paid.
This year the property tax target is expected to further go up with collectible dues increasing, court cases being settled and new assessments getting included, sources in GVMC say.
“Can pay for year”
Property tax can now be paid for the entire year but the 5 per cent early bird incentive will not be available, said sources.
Early bird incentive
The introduction of the early bird incentive and online payment facility has led to more people paying up the tax in the first month to avail themselves of the incentive.
Initially owing to lack of information on the incentive many ended up losing the incentive as well as paying interest.
But regular campaigns by the civic body on the penal interest provision if the tax is not paid in the first three months of the half-year paid dividends.
