The state of Karnataka has officially said that there won’t be a change to Bangalore’s property tax rates for the 2024–2025 financial year. The government made it clear that the calculating technique it used in 2016 would not change.
This explanation comes after previous announcements that suggested a new guideline value-based property tax computation system may be used beginning on April 1, 2024, raising concerns about large tax increases.
Reports dated March 12 claimed that the government would refrain from making any changes for the upcoming fiscal year due to political factors surrounding the Lok Sabha elections and the delayed updating of the BBMP’s tax management software.
Deputy Chief Minister DK Shivakumar took to social media platform X on Monday to counter the proliferation of bogus news surrounding property tax rises. He informed Bangalore residents that the BBMP has not hiked property tax rates, stating that they will remain consistent with the 2016 rates. Shivakumar encouraged residents to disregard any rumors indicating differently.
In reaction to Shivakumar’s comments, BBMP Chief Commissioner Tushar Giri Nath said that action would be done against persons propagating false information online, with directives issued to the city police commissioner to handle the distribution of fake news.
A citizen’s video uploaded on Instagram on March 13 alleged an upcoming hike in property taxes, causing anxiety among taxpayers. Nath confirmed that the statements made in the video were baseless, asking property owners not to be scared by such disinformation.
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