10% relief on property tax payment by February 28
In a move aimed at encouraging city residents to pay property tax for the current fiscal, the municipal corporation (MC) has decided to offer a 10% rebate to those who pay up by February 28, a month before the March 31 deadline to pay the tax.punjab Updated: Feb 03, 2015 23:35 IST
In a move aimed at encouraging city residents to pay property tax for the current fiscal, the municipal corporation (MC) has decided to offer a 10% rebate to those who pay up by February 28, a month before the March 31 deadline to pay the tax.
Penalty will be applicable after the deadline.
MC joint commissioner PS Ghuman said all property owners were liable to pay the property tax return.
Meanwhile, it appears to be a win-win situation for city residents as last year the Punjab government not only slashed the property tax but also the penalty on delayed payments.
While earlier the penalty was 100% of the tax amount, it was reduced to 20% along with 18% interest from April 1, 2014, following the government’s intervention.
The Ludhiana MC collected around Rs 66 crore property tax last year, with at least 1.4 lakh residents defaulting on payment, following which MC served them notices. However, this has failed to elicit the desired results.
Property tax regulations were implemented by the state government in 2013. It took the place of house tax in Ludhiana which was eventually phased out.
Ghuman said with the city divided into three parts for collection of property tax, residents needed to submit their property tax return zone wise.
As many as 989 colonies of the city have been divided into three categories depending on facilities being provided to them.
The property tax rates will be implemented as per constructed portion on ground floor, besides 50% of these rates will be charged for basement, first and other floors.
While the area for houses would be measures in square yards that for commercial establishments, such as shops, restaurants, shopping malls, etc., will be measured in square feet.