Malls, supermarkets to pay hefty sum as property tax

Supermarkets and malls in Kozhikode Municipal Corporation limits will now have to pay a hefty sum as annual property tax.

As per the revised property tax rates approved by the Corporation on January 27, supermarkets and malls with a carpet area of above 200 sq. m will have to pay ₹150 per sq.m while those below 200 sq.m will be charged ₹90 per sq.m.

Public opinion

The revised rates based on carpet area were published in various newspapers on November 11 and 12, 2016, to elicit public opinion.

After taking public opinion into consideration, the council decided to implement the proposal without any amendment.

The revised rates will be effective from April 1, 2013 with retrospective effect. The revised rates will not be applicable to houses below 2,000 sq. ft that have not added carpet area since.

Those house owners shall pay the same tax as before the revision.

Owners who have increased the carpet area of their houses have to remit the additional tax in proportion to the added area.