Chief Minister N. Kiran Kumar Reddy on Saturday ordered waiver of interest on arrears of Property Tax and interest on current year’s dues (2012-13) as a one-time measure in Municipalities and Municipal Corporations, including Hyderabad, Visakhapatnam and Vijayawada.

An official release said the waiver would come into effect provided the assessee paid the total arrears and current year’s tax in one lump sum or in instalments before March 31, 2013.

Officials were directed to adjust the interest paid by citizens on arrears and on current year tax demands during the year 2012-13 towards future tax payments.

No cash refunds will be made, the release said. Also, the government directed that all Commissioners of Municipalities/Municipal Corporations follow the order.