The Bruhat Bengaluru Mahanagara Palike (BBMP) is considering a hike in property tax rates for the city of Bengaluru, which could impact over 25 lakh property owners. The Deputy Chief Minister and City Development Minister, DK Shivakumar, has examined the proposal and emphasized the need for alternative funding sources to support developmental projects. The BBMP aims to collect a total of Rs 4,790 crore in property taxes and cesses for the year 2023-24.
.png)
Should the proposal for a hike in property tax by Bruhat Bengaluru Mahanagara Palike (BBMP) be approved, more than 25 lakh property owners residing in the city of Bengaluru will need to prepare to pay higher property taxes. Bengaluru's Deputy Chief Minister and City Development Minister DK Shivakumar, after examining BBMP's performance, announced that the government is contemplating an increase in property tax rates in the city's bustling IT hub.
Shivakumar announced that the municipal corporation had drafted a comprehensive plan to augment the property tax in the metropolitan area prior to the legislative elections. He was presented with the proposal by the authorities. He stated that he has scrutinized the proposal and will assess it thoroughly before coming to a conclusion.
Shivakumar urged the BBMP officials to seek alternative sources of funding for developmental projects instead of relying solely on the government. Funding for Bengaluru city has been withdrawn by the central government. The deputy Chief minister advised BBMP to prevent any tax evasion and diligently gather funds to sustain their resources.
According to Palike authorities, their aim is to collect a total of Rs 4,790 crore in property taxes and cesses for the year 2023–24. The civic authority accumulated a sum of more than Rs 3,800 crore in the year 2022–23, which fell short of the anticipated goal of Rs 4,189 crore. According to sources, if the state government approves BBMP's proposal to raise property taxes, the clean-up effort will see an increase.
Shivakumar conducted a comprehensive BBMP evaluation session lasting over three hours. He requested that engineers in charge of road infrastructure provide visual evidence of their completed tasks by submitting photos and videos depicting the state of the project before and after completion. Furthermore, he instructed the engineer-in-chief, BS Prahalad, to provide a comprehensive rundown of all the projects that have been initiated within the city during the past five years.
The review meeting had the attendance of Rakesh Singh, an administrator of BBMP; Tushar Giri Nath, the Chief Commissioner; as well as engineers, special commissioners, and other senior officials.
Shivakumar conducted a review session with BDA staff and directed them to prevent any corrupt practices within the organization. He suggested the creation of innovative designs and instructed officials to expedite the progress of all current projects.
To summarize, it is important to thoroughly examine the effects of giveaways on the suggested increase in Bengaluru's property tax in order to implement a just and enduring solution. In order to enact policy changes, it is crucial to carefully consider several factors, including the distribution of economic responsibility among property owners, ensuring fairness, weighing the potential financial consequences, safeguarding revenue for local government, and understanding the impact on the social and economic landscape.
Advertisement
Facebook
Whatsapp
