Property Tax Revised

The Coimbatore Corporation on Thursday recorded a Government Order that directed local bodies to revise Property Tax with effect from April 1. The last revision (once in five years), due in 2003, had not been carried out. Along with its order dated November 12, 2007, the Government had issued a set of guidelines for the revision. There will be no revision for all categories of buildings assessed for tax after October 1, 2007. There will be a 5 per cent revision for buildings assessed from April 1 to September 30 in 2006.

5 per cent revision for buildings assessed from April 1 to September 30 in 2006

The upward revision will be 10 per cent for those assessed between April 1 2005 and March 31, 2006. The tax increase will be by 15 per cent for assessments from April 1, 2004 to March 31, 2005. And, it will be 20 per cent for assessments done between April 1, 2003 and March 31, 2004. For assessments done on or before March 31, 2003, that tax increase proposed is 25 per cent for residential buildings (whether rented out or owner occupied), 100 per cent for industrial and 150 per cent for commercial buildings.

All the rates mentioned apply for private buildings occupied by Government establishments. As for buildings belonging to Government departments, the increase will be by 50 per cent. The entire revision exercise should be completed by June 30. The Corporation has decided to keep all its tax collection counters open from 8 a.m. to 8 p.m. from Friday in order to step up the collection of taxes for the current financial year. A special drive is already on and the Corporation is disconnecting water lines to punish those not paying taxes. The counters will be open for 12 hours everyday till March 31 – the close of the financial year – to achieve maximum collection.

Related Posts by Categories

General

• Indian navy felicitate shooters !
• Voters strength goes up by 9%
• Nuts 'n' Spices plansto enter cbe !
• உலகத் தமிழ் செம்மொழி மாநாடு - 5 நாள் நிகழ்ச்சி நிரல்
• ‘Manage the present industrial scenario well’
• Consumer body opposes ‘illegal, excess bus fare’
• Trial run on New Irugur - N.cbe Track !!
• Traffic diversions in city today
• New fire tenders for Coimbatore Airport
• Power cabels t go underground !!
• Eclipse Watch !!
• Army recruitment announcement
• SIEMA to develop ‘Made in Coimbatore’ brand
• Copenhagen summit: City students express solidarity
• Awareness campaign for TNSTC drivers
• Botanical garden: soil samples taken
• NASSCOM to help police ..
• YES plus from 5th Jan
• Training for women
• Youth urged to become entrepreneurs
• Six-a-side cricket to be conducted !!
• Wild jackals kill 39 sheeps !
• Biometric survey under houses for urban poor scheme
• Helmet must from 10th dec !!
• Kamal Nath thanked !

Infra

• ‘Medical Transcription Outsourcing Capital !
• Create infrastructure before Tamil meet: RAAC
• Modernisation of non-metro airports in 2 yrs
• Multi-storeyed buildings zones in other cities to be studied
• BSNL launches EVDO Data cards
• Provogue ventures into real estate !
• ICCI Protested The Powercut
• Smart Rooms 2009 Exhibition
• Flowserve to expand Coimbatore operations
• KGISL to invest 600 Cr in SEZ !
• Govt keen to develop Tier II cities
• Coimbatore – An Emerging Real Estate Destination
• Pilloor II Water Supply Scheme Likely By Mid 2010
• Focus Will Be On Road Repairs - Corp
• Residents protest against ST Plant !
• The needs of KOVAI !!
• Construction industry seeks speedy approval mechanism
• Tamizhaga Vivasayigal Sangham - No for Byepass !
• RAAC comes with " Vision Kovai Mission 10"
• ITC - Fortune park to set up Hotel @ Coimbatore !
• Coimbatore industy to set up 1000 MW Power plant !
• IT sector will Boost in 2 yrs ..
• Potholes on roads - Be safe !!
• Bosch to invest Rs 250 crore !!
• Civil engineers role - Expanding ..