According to the director (tax) of NDMC, Hrishikesh Kumar, since there are just two months left of the financial year 2012-13, a decision was taken in a meeting of the council last week to offer this incentive to taxpayers.
"If someone comes to us to pay the tax before March 31, then he will be given a five per cent rebate after assessment of the valuation of his property," Kumar told Hindustan Times.
The official said the council has similar tax slabs for both commercial as well as residential properties.
"While properties that are below Rs.10 lakh are taxed at 20%, the ones between Rs.10-20 lakh have to pay 25%. Any property above Rs.20 lakh would be charged at 30%," he said.
Earlier, in its annual budget, the council did not announce any big projects.