During a grievance redressal programme at RBANMS High School grounds, Karnataka Deputy Chief Minister D K Shivakumar announced the government’s intention to amend laws to allow more time for property tax and penalty payments. Acknowledging concerns raised during such meetings, he mentioned the need for extending deadlines and simplifying the property tax payment process.
The Minister of Karnataka highlighted the instances where penalties for constructing commercial properties on residential plots were perceived as too high, prompting the government to consider revising these penalties and deadlines. He emphasised the importance of prompt tax payments in line with property ownership, urging citizens to fulfil their tax obligations.
Addressing concerns about the tight deadlines for penalty payments, Shivakumar mentioned the serving of notices within 3 to 7 days and expressed the government’s willingness to review and potentially amend these timelines in consultation with officials.
Property Tax
Property tax is a local tax levied by municipal or local authorities on real estate properties within a specific jurisdiction. It is an ad valorem tax, meaning it is calculated based on the assessed value of the property. The property tax rate is not standardised across the country; instead, it may differ from one state to another. This tax holds significant importance for local administrations as it serves as a crucial revenue source for the development of infrastructure.
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