Apparently with an eye on GHMC polls, Chief Minister K Chandrasekhar Rao on Thursday disclosed his government’s plan to waive property tax on residential properties to help the poor and middle class home owners in the twin cities.
If KCR Govt go ahead with its decision, 80-90% of residential property owners in the GHMC limits may be exempted from paying property tax. Officials of the civic body submitted property tax details to KCR a few days ago.
According to a survey carried out by the civic body covering 1.05 lakh commercial meters, shows that about 20,445 persons are paying residential property tax instead of commercial property tax. Another 28,500 were found to be short-changing the civic body by showing less podium area.
In fact, in Nov last, the GHMC Standing Committee passed a resolution to waive residential property tax up to `4,000 but it did not move forward as the term of the elected body ended in Dec.