Property Tax For 2023-24 Revised Further By MCC: This Will Reduce Burden on Tax Payers
Property Tax For 2023-24 Revised Further By MCC: This Will Reduce Burden on Tax Payers
Mangalore City Mayor Jayananda Anchan that the MCC has further revised the property tax for the assessment year 2023-24 to reduce burden on the tax payers by rationalising the tax structure. The civic body earlier this year revised the tax applicable for 2023-24 by 0.75% of the capital value of the property, by keeping it (0.75%) as a standard rate of revision for all properties. This resulted in an increase of over 30% hike in the tax payable by some property owners.
The tax has been revised for the residential and non-commercial properties in the range of 0.2% to 1.5% of the capital value of the property, scientifically, as allowed by the guidelines. The latest revision was incorporated in the online software with effect from March 21, 2023. Hence those who have been paying the tax for 2023-24 from March 21 onwards have been getting the benefit of the revision.
