Bbmp property tax rebate 2023-24

BBMP officials shared that the property tax collection target for the year 2023-24, including cesses, is set at Rs 4,790 crore. In the previous fiscal year of 2022-23, the civic body collected over Rs 3,800 crore, falling short of the target of Rs 4,189 crore. If the state government approves BBMP's proposal for the property tax hike, the collection is expected to increase further. During the review meeting, Shivakumar emphasized that BBMP should not rely solely on the government for funds to carry out development works. With the Union government ceasing to provide funds for Bengaluru, he urged BBMP to prevent tax leakage and maintain its resources by efficiently collecting taxes. During the meeting, Shivakumar spent over three hours reviewing BBMP's functioning. He directed engineers from the road infrastructure department to provide visual evidence, such as before and after photos and videos, to demonstrate the work they have undertaken. He also instructed the Engineer-in-Chief, BS Prahalad, to furnish comprehensive details of the projects executed in the city over the past five years. The review meeting was attended by BBMP Administrator Rakesh Singh, Chief Commissioner Tushar Giri Nath, Special Commissioners, engineers, and senior officials. Shivakumar also held a separate review meeting with officials from the Bangalore Development Authority (BDA), emphasizing the importance of eradicating corruption within the agency. He urged the swift completion of ongoing projects...

Taxes are one of the major sources of revenue for the government, which helps them fund various amenities to be provided to the general public of the country. Taxes are levied on various things, such as income tax on income, GST on goods or services, etc. Certain taxes are governed centrally, certain other taxes are state-specific, and revenues are received by various states for the purpose of funding the State budget. Property tax is one such tax levied by the state government through the local body on real estate, including vacant land year on year basis. This tax is imposed on the owner of the property. Property Tax A property tax levy is delegated to various municipalities within the states to ensure efficient and smooth maintenance of civic amenities in various localities, such as maintenance of local roads, drainage, cleanliness in the area, public parks etc. Property tax is governed by the state government and further delegation to various municipalities results in differences in the basis of levy, computation, mode and manner of its payment. Property that is included for property tax purposes generally includes independent buildings (residential and commercial), Flats and apartments, Shops, Godowns, vacant land, etc. So owning a property has its own complications, and understanding the nuances of property tax is also important for an individual in finance and tax planning as well. In this article, we will be simplifying property tax levied by the Bengaluru municipa...

Honolulu residents may soon get a one-time tax rebate of $350 now that the City Council has unanimously approved the city’s $3.41 billion operating budget. Specifically, this one-time One-Time Tax Rebate From Honolulu: Who Will Get It? On Wednesday night, the Initially, the plan was to send a one-time rebate of $300, but the Council unanimously approved the bill to raise the rebate by $50. The tax rebate from Honolulu is estimated to cost the city about $53.2 million. This tax rebate is actually a discount off the tax bill. In Honolulu, the residential property tax rate is $3.50 per $1,000 of a home’s value. Thus, the one-time rebate of $350 reflects a drop in homes’ appraisal values by $100,000. If the appraisal doesn’t go up $100,000, the homeowner will owe less than last year. Mayor Rick Blangiardi noted that the plan to offer a flat rebate, irrespective of the Homeowners with an owner-occupant exemption don’t need to take any action to get the one-time tax rebate from Honolulu. The rebate amount will be automatically deducted from their tax bill. Many believe the one-time tax rebate of $350 is just a start, and the authorities are planning more relief measures. City Budget and Finance Director Andrew Kawano noted that the administration is considering many proposals, including reducing taxes on long-term rentals, reducing taxes for lower-income homeowners and more. Other Budgets That The Council Approved Apart from the Honolulu tax rebate, the $3.41 billion operating b...

A 5 per cent rebate on property tax payment, which expired at the end of April, is likely to be extended until June 30. The Bruhat Bengaluru Mahanagara Palike (BBMP) is drafting a request to the state government for approval, following requests from former corporators. Usually, the rebate is extended for a month until the end of May, but it was not extended this year due to the model code of conduct being in effect. BBMP sources mentioned that they are seeking an extension and those who paid property tax in May may have the 5 per cent rebate adjusted when making payments in the next financial year. Abdul Wajid, a former corporator, wrote a letter to BBMP Chief Commissioner Tushar Girinath on Monday, requesting an extension of the 5 per cent rebate and highlighting the slow progress in property tax collection due to revenue officials being occupied with election duties. The BBMP aims to collect Rs 4,690 crore from property tax, including other cesses, in the 2023-24 budget. Last year, the Palike collected over Rs 3,332 crore, with a significant portion coming from Mahadevapura and the East zones of the BBMP.

BENGALURU: Citing the model code of conduct and inconvenience caused to those paying property tax on time, Congress functionaries have urged BBMP to extend the 5% tax rebate by another month. Former Congress corporators M Shivaraju and Abdul Wajid met the BBMP chief commissioner on Wednesday and said the rebate should be extended by one month to facilitate payment of property taxes. BBMP generally provides a 5% rebate to those paying property taxes for 2023-24 in April. However, due to assembly elections this year, several BBMP revenue wing officials were busy with poll-related work in April and May, inconveniencing many taxpayers.The functionaries sought extension of rebate to property taxpayers for May as well.

The Karnataka State Government imposes this tax on the residents of the State who own properties in their name. BBMP property tax is the property tax that is collected from the property owners in Bangalore. This tax forms a source of revenue for the State Government. The funds collected through this tax are used for the development of the State. What is the Property Tax Rate in Bangalore? The Bruhat Bengaluru Mahanagara Palike (BBMP) is the municipal corporation of Bengaluru that levies the property tax on eligible property owners. The Bruhat Bengaluru Mahanagara Palike (BBMP) property tax is payable annually by eligible owners of the property. Failing to pay the tax would result in penalties and even the seizure of your assets. The BBMP property tax rate in Bangalore is not a fixed rate. It is categorised into different slabs depending on the type of property and the jurisdiction into which the property falls. You can check your tax rate online on the BBMP property tax portal. The rates are also discussed later on in the article. How to Pay BBMP Property Tax? You can pay the BBMP property tax online or offline. The Bengaluru municipality allows property owners both options to pay off their tax liability conveniently. The process of paying the property tax under both modes is discussed below: 1. Online BBMP online tax payment is possible through the official website of BBMP. The process is as follows: Step 1: Visit Step 2: Choose the mode through which you want to retrieve...