Assembly clears two municipalities Bills

February 05, 2021 02:03 am | Updated 02:03 am IST - Bengaluru

The Legislative Assembly passed the Karnataka Municipalities and Certain Other Law (Amendment) Bill, 2021, to extend the time limit for payment of property tax and also to provide a rebate of 5% if tax is paid within one month from the date of commencement of the amended Act.

The Karnataka Municipalities (Second Amendment) Bill, 2021, was also passed. It aims to revise the existing property tax structure and provide a simplified property tax base, improve the revenues of the municipalities by linking the property tax base to the prevailing guidelines under section 45B of the Karnataka Stamps Act, 1957, and bring about property tax reforms. It replaced the Ordinance.

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