Pay property tax dues in 3 months to get 20% concession from GCC

CHENNAI: The Chennai Corporation adopted a resolution to provide 20 per cent concession to the property owners, who would pay their dues within three months.

A resolution was passed before the council members at the Ripon Building, on the second day of Budget 2023-24, gave concessions to the property owners to collect long pending property taxes.

Till the beginning of 3rd quarterly of the financial year 2022, a total amount of Rs 674.27 crore was pending which was Rs 600.23 crore on the beginning of the financial year, said the resolution.

From 1 to 3 years, pending property taxes are calculated at Rs 120 crore, 4 to 5 years pending taxes calculated at Rs 128 crore, from 6 to 7 years long pending taxes calculated at Rs 43 crore, 8 to 10 year long pending property taxes calculated at Rs 58 crore and Rs 245.31 crore are more than 10 year long pending dues, noted the resolution.

Likewise, a total sum of Rs 124.24 crore marked as property taxes can't be retrieved due to court cases and some owners of the properties are not traceable, said the resolution. More than Rs 245 crore worth property taxes were pending for more than ten years, it added.

To encourage the property owners to pay their dues, concession would be given using the Municipal Chennai Corporation Act, 1919.

Besides, property owners who didn’t pay their taxes for more than 5 years would be given a 20 per cent concession if they pay due taxes within three months, noted the resolution.

Due to this concession, the expenditure for the court cases and Chennai Corporation's human resources can be saved, the resolution added.