The Greater Chennai Corporation (GCC) will use geographic information system (GIS) to identify properties that have been underassessed in the city. Work on revising the property tax for under-assessed properties will be carried out between January and March 2023.
The Corporation Council on Tuesday passed a resolution permitting initiatives to improve its own source of revenue (OSR) based on the Chennai City Partnership Programme of the World Bank. The civic body has obtained data from Tamil Nadu Generation and Distribution Corporation (Tangedco) about the commercial properties that have been paying property tax as per residential rates. The work on revising taxes for such properties will be completed by February 2023.
The Corporation will also start the collection of property tax from buildings with mobile phone towers by October this year. The civic body will get the data from the Registrar of Companies to increase revenue from profession tax. Work on identification of trades that are not covered in the tax net will be completed by March 2023.
The work on identification of companies that are not in the tax net will be completed in November this year. GIS will be used to improve trade licensing system.
Advertisement revenue will be increased by utilising street infrastructure at 8,000 locations. More parking spaces will be created. The civic body has also approved a OSR improvement action plan with funding from the World Bank. The civic body also granted extension for its OSR consultant.
