CHENNAI: The Greater Chennai Corporation (GCC) denied the speculation of a severe dip in property tax collection and chasing down the private commercial establishments to pay the pending tax dues to meet the gap.
A top official of GCC (Revenue) said, “So far, the collection of property tax is in good shape. There is no dip projected by some media reports. However, the collection was high last month since an incentive of 5% was announced for those who pay their tax within 30 days. Usually, property tax will be high in March and September considering the half fiscal year.”
He also added that no instructions were given to officials to pressurise the commercial establishments for collecting property tax. “We’ll publish the correct figures at the end of the month. The public must not to get carried away with mere speculations,” he added.
Until April this year, the GCC has collected Rs 505.21 crore as property tax, which is Rs 73 crore more than the previous year. In April 2024, it had received Rs 432 crore.
In 2020, the GCC introduced an incentive of 5% to encourage residents to pay property tax within 30 days of the commencement of every half fiscal year (April and October). According to GCC, the scheme has been effective, as residents pay property tax to claim it.
Until April, the local body has spent Rs 10 crore for the incentive.