KTR announces 50% waiver in Property Tax, GO issued

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Municipal Administration Minister KT Rama Rao flanked by Ministers Mahmood Ali and Talasani Srinivas Yadav is announcing the waiver in property tax. CS Somesh Kumar is also seen in the picture.
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Consequent to the announcement of KCR, the State Government today issued GO Ms No.611 extending the financial benefits in Property Tax as one time measures to the property owners in the state

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The GO issued by the Principal Secretary Municipal Administration Aravind Kumar said the COVID19 pandemic and consequent nationwide lockdown from March – July 2020 has resulted in the overall slowdown of the economy, which has impacted everyone in some way or the other. The situation got aggravated during the recent heavy rains and inundation in parts of Hyderabad and nearby municipalities. Families belonging to low and middle-income strata have been particularly affected.

State Government, considering the multiple hardships faced during the current financial year has decided to extend certain benefits in Property Tax as a one-time measure.

Accordingly, the Government in the exercise of the powers conferred under Section 679E of GHMC Act, 1955 and Section 288 of the Telangana Municipalities Act, 2019 hereby decides to waive 50% of the annual property tax demand in respect of property tax on residential properties, as a special case for the Financial Year 2020-21.

The above-said waiver shall apply to the current year’s demand for the following categories of properties:
i) GHMC – Residential properties with annual property tax assessment up to Rs.15,000/-
ii) All other ULBs – Residential properties with annual property tax assessment up to Rs.10,000/-

The amount of residential property tax waived as above will be reimbursed to the ULBs by the State Government.

Those assessees who have already paid their annual property tax demand shall be entitled to automatic adjustment of such amount against next year’s demand.

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