Property tax revision work gets under way

Days after the State government permitted local bodies to revise property taxes, the Tiruchi City Corporation has begun preliminary work to this effect.

The taxes were revised last in 2008. Soon after the receipt of a G.O. on tax revision, Corporation Commissioner N. Ravichandran held a meeting with Assistant Commissioner, Revenue, and senior officials of the Corporation to chalk out a plan of action. On Thursday, an official team visited Chennai to collect macro details on the method to be followed for fixing new taxes. According to an official, there are 2.18 lakh properties in the city. The list includes commercial, government and newly constructed buildings. The increase will not be more than 100% for commercial and rented buildings, and not more than 50% for residential buildings. The new taxes will be given retrospective effect from April 1.

Though the guidelines of tax revision were yet to be known, a senior official told The Hindu that a clear picture would emerge in a week. However, preliminary work for revising taxes had been started. The assessees might be asked to file property tax returns so as to provide details on the extent and nature of properties. The entire process would be completed within four to six months.

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