Sources in the civic body said the decision was taken after consultations with the State government.

In an official statement, the civic body said it had revised property tax assessments identified as under-assessed and had received several grievance petitions from the public seeking reconsideration of the revisions.

It said property tax amounts would immediately revert to the rates prevailing before the latest reassessment exercise. For taxpayers who have already paid the revised demand, the excess amount would be adjusted as advance tax against subsequent half-year periods.

The steep surge in tax, and the manner in which it was imposed, drew widespread criticism on social media, with several residents posting details of the demand notice that were sent to them in the recent days.

The GCC has around 14.5 lakh registered property taxpayers across its 15 zones. It had identified more than 3.5 lakh property owners who were paying under-assessed or incorrect amounts, including 1.5 lakh residential property owners who had self-declared discrepancies in property values.

The revised assessments were to take effect from the second half of 2025-26. So far, the corporation has collected Rs 11.42 crore from nearly 30,000 property owners, who received revised demand notices. The revision was expected to generate an additional Rs 170 crore annually.