Property tax hiked from 14-15 All will have to pay arrears for 3 years
We had made a story 5 Percent Rebate If Property Tax is Paid before April 30, forget the rebate citizens are in for a shock as the City corporation Belagavi is levying as arrears of 658 per year from 2014-15.
The arrears is for three years, 15% hike for three years, with retrospective effect.
This year there has been a hike of 15% but for the previous THREE years also you will have to pay the difference amount of 15%.
This year 2017-18 also has a hike of 15% from the last year.
This in real terms means the property tax has been HIKED from the year 2014-15.
On December 5, 2016 the resolution was passed for hike from April 2014 with retrospective effect and yes even if you have paid in all those THREE retrospective years in Question in April and got 5% rebate the same is not applied now as it is termed as arrears.
The increase over last years Property tax comes to a hike of about 55.74%. So if you paid 4752 as property tax last year this year you will pay 7401.
This years Corporation budget has quoted a Property tax hike by 15% with a view to garner Rs.35 crore next year. But the sharp brains in the corporation have hiked it with retrospective effect.