Sunday, July 21, 2024

Over 60K property owners to gain from property tax fine waiver

Owners of over 60,000 properties in Kolhapur city with property tax dues can avail a 50% waiver on fine after paying the principal amount and half the fine, said officials.

Political parties cutting across party lines had demanded a rollout of the amnesty scheme for property tax and water tax defaulters. While a decision has been taken on waiver of property tax, a decision is awaited on water tax. There are 1.45 lakh properties in Kolhapur city. Owners of over 60,000 properties have dues over Rs25 crore excluding the fine, which is levied at 2% for every month of delay in payment.

Kadambari Balkawade, a civic administrator, said, “The window for availing the amnesty scheme opens on Thursday. Those paying between February 9 and February 28 will get 50% waiver on the fine amount. Those paying later till March 31 will get 40% waiver on the fine amount. Those who have paid the dues already will not be eligible for the waiver. The waiver is applicable for tax default on all types of properties.”

The KMC issues bills for property tax in April and May. Owners who pay tax within the first quarter of the financial year receive a concession of up to 8%. The concession is reduced by 2% for every quarter thereafter. The concession is applicable on the principal amount due.

The KMC has set a target of Rs99 crore property tax for 2022-23.

Balkawade said that defaulters who fail to clear the dues by March 31 will receive pre-seizure notices. Also, the dues will be noted on the property documents so that the owner will have to clear the dues before availing loans or selling off the property.

Earlier, around 68,000 people have availed of the property tax concession scheme. The KMC is also trying to make citizens aware about the property tax concession scheme, issuing notices to big defaulters and attaching the properties of chronic defaulters.

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