The BBMP has set a target of collecting of Rs 2,400 crore worth property tax for the financial year 2015-16. They have already collected Rs 1,489 crore and is expected to exceed the target by March.
What is the point of increasing property tax, anyways it is quite high??? I stay in Malleshwaram and you could see most of the footpaths in Malleswaram are left unattended for more than 10 years. BBMP is least bothered to improve the footpaths.
Many areas such as Yelahanka, Bommanahalli, Mahadevapura and Hoody, where property tax is charged at a lower rate currently, is proposed to be revised. Property tax was not revised in areas coming under IT Corridors, despite of increase in commercial and residential activities.
Right now there are 6 tax zones in the city from A to F, properties coming under the A zone are paying high tax and those under F zone paying lower rates. The guidance value for the properties in these areas has been revised thrice – 2009, 2013 and 2014, but the property tax, fixed on the basis of the 2007 guidance value, was not revised since then.
Yeah you can pay the tax online via the BBMP's website or through net banking. No transaction charges will be levied.
If the tax payable is less than Rs 1,000, it can be paid in cash at BBMP help centers, the respective sub-divisional Assistant Revenue Officer (ARO) offices or in any of the BangaloreOne centers across the city. Payments above Rs 1,000 can be made through demand draft (DD), cheque or debit/credit cards.
The last and final date to pay property tax for the full year is May 30. Property owners who are paying the entire tax amount for the assessment year 2015-16 will a rebate of five percent.
Those who are paying property tax in installments have to pay the first installment by May 30. The second installment is to be paid by November 29, 2015.
If you fail to pay the tax on said date, you will be charged two percent interest as penalty every month thereafter till the payment is made, calculated on the total tax payable.