The decision to increase the Property Tax by three percent was made during the general meeting of the Belagavi City corporation on Saturday, March 16th. Surprisingly, this decision contradicts the ruling group’s previous stance on March 13th, where they had firmly decided against increasing the Property Tax. It seems that within a mere six months, the ruling group has completely reversed its position.
This increase in Property Tax will be implemented within the current financial year. Consequently, those who have already paid their arrears will find them added to next year’s challan.
Initially, during the general meeting, it was agreed upon to increase the Property Tax starting from the financial year 2024-25. This meant that the increased house Property Tax was supposed to be implemented in Belagavi from April 1, 2024. However, the state government rejected this decision, resulting in the implementation being brought forward to the current financial year.
Interestingly, the Property Tax in Belagavi city has remained unchanged since the financial year 2019-20. While other municipalities in the state have increased their Property Tax, the Belagavi Municipal Corporation has refrained from doing so. Consequently, the commissioner has emphasized the necessity of increasing the Property Tax within the current financial year.
We buy property with our money that we get after paying income tax. Means, the money used in the property is actually an earning “post taxation”. Then why property tax again? Can we just end these 100 types of tax systems!