May 27, 2024

BENGALURU EXPRESS

Truth Triumphs

BBMP Property Tax Amendment Bill Passed: Penalty on Property Tax Dues down by 50%

Bengaluru, Feb 21: The tax payer friendly BBMP Amendment Bill 2024, which brings down the penalty on property tax dues by 50% in Bengaluru city limits, was passed in the Legislative Assembly today.

Deputy Chief Minister D K Shivakumar, who is also the Bengaluru City Development minister, tabled the tax-payer-friendly Amendment Bill in the Legislative Assembly in the post lunch session. With the passing of this Amendment Bill, the penalty amount is halved, saving Bangaloreans a whopping Rs 2,700 crores. The BBMP will be able to collect penalties worth Rs 1000 crores.

This important Amendment will benefit a total of 13-15 lakh people in Bengaluru city including 5.51 lakh tax payers, 5-7 lakh people outside the property tax bracket and 3 lakh partial property tax payers. The Amendment Bill has a provision for a special rebate to poor segments of the society. Government residential buildings, buildings in slums are exempt from property tax penalties. Buildings up to 1,000 square feet which are used for own use are exempt from property tax penalties.

Under the Amendment Bill, penalties on Residential and mixed-use properties will have to pay property tax penalties only for a maximum period of 5 years irrespective of the default duration. Interest has been waived off for dues beyond five years.

“This is a tax payer friendly amendment. We have brought this Bill to help the common people though it is a burden on the government,” said Mr Shivakumar told the Legislative Assembly. Bangaloreans had to pay heavy penalties as the previous BJP government had passed the previous amendment bill which doubled the penalties on property tax dues resulting in a huge burden on the property tax payers. The new amendment passed by the Congress government has reduced penalty burden on Bangaloreans significantly.

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