Saturday , February 16 2019

KTR Highlights Increase in Property Tax

Minister of Municipal Administration and Urban Development K.T.Rama Rao has suggested the likely increase in property tax rates in his response to clarification on the debate on grant applications to the Telangana Legislative Assembly on Wednesday.

Tax hits by KTR
KTR hints at property Tax hike

“There has not been a property Tax review for 15 years”

In response to a complaint from MIM member Jaffer Hussain against the Tsunami operation undertaken by GHMC to improve tax revenues, Mr. Rao said there has been no property tax review for 15 years. Without a fair assessment of the tax, the company will bleed, he noticed and said the property tax will be revised soon “with the cooperation of members.”

Waiver of interest

At the request of Mr. Jaffer Hussain to apply the interest relief on tax at the end of the financial period, as has been done so far, Mr. Rama Rao stated that it would be unfair to Ordinary taxpayers and an incentive for defaulters. Yet, he said he would consider the application.

During his reply, Mr. Rama Rao said that real estate tax revenues have been significantly increased, and have reached ₹ 1,053 crore this year so far.

Telangana government may soon find a plan for the effective conservation of heritage buildings in the city by the property tax levied on them, he said.

Mr. Rama Rao stated that the government is considering a proposal to open blocked accounts in which property taxes from heritage buildings can be deposited and used for the purpose of protecting heritage structures as required by Mr. Jaffer Hussain Their preservation. This will be done with coordination between GHMC and the owner of the property, he said.

During his reply, Mr. Rama Rao announced that apart from budget allocations, ₹ 5,000 crore loan will be obtained for the development of the city, which will be mainly spent on laying roads.

A Hyderabad Road Development Corporation will be formed for the same, he said. He also reiterated the intentions to establish a Musi River Front Development Corporation and a Hyderabad Clean Air Authority. The building court proposed in the previous session, will get a leader this year, he said.

Reacting to Mr. Jaffer Hussain’s request for water supply from Gandipet to the Old City, Mr. Rama Rao said that the water in Osman Sagar and Himayat Sagar is currently preserved, both being part of the project ” Embellishment of Musi.

Rama Rao said that the GHMC and HMWSSB received their best budget support this year at ₹ 1,000 crore and ₹ 1,420 crore respectively.

Efforts are being made to improve the internal efficiency of both organizations so that they can become self-sufficient in the future, he said.

Minister of Roads and Buildings Tummala Nageswara Rao and Minister of Panchayat Raj Jupally Krishna Rao provided too many answers to the House.

In response to Mr. Krishna Rao’s allegations regarding the effectiveness of the implementation of the regimes, opposition leader K. Jana Reddy questioned the release of Rs.600 crore for MGNREGS in February, On 31 March.

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KTR Highlights Increase in Property Tax
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