Food grain merchants want tax slashed

CHENNAI: In a representation to the Chief Minister, SP Jayaprakasam, president of the association said hiking the property tax by 25 per cent to 150 per cent at a time when the economy is stabilising after the COVID-19 pandemic will impact the business. “We are shocked and disappointed by the announcement. About 90 per cent of the commercial establishments are functioning in rented spaces and most of the private and government employees reside in rented houses. Due to the increase in the property tax and subsequent increase in rents, prices of other essentials will go up,” he said.

He pointed out that education fees will rise due to the property tax increase for educational institutions and health care will also become expensive. The government should reconsider the decision and reduce the property tax.

Meanwhile, N Jegatheesan, president, Tamil Nadu Chamber of Commerce and Industry, Madurai, said the trade and industry, already hit hard by the economic stagnation due to the pandemic, would be further hit by the hike. About 22% of small, micro enterprises are yet to restart business, he said.