Kolkata Municipal Corporation to Form Property Tax Assortment Clear

In a shot to try to do away with the inspector raj and create property tax collection clear, the Kolkata Municipal Corporation (KMC) is ready to introduce a system that the civic officers believe can create tax paying easier and at constant time generate a lot of revenue.

After the new technique is established the company inspectors won’t visit the taxpayers properties as they are doing currently. Instead, they (the taxpayers) can create a self-evaluation of their properties and fill within the “self-declaration” forms sent to them by the KMC for annual valuation (AV) of their property in Kolkata. The corporation can solely charge 10% of the annual valuation of the property, which is able to be revised each six years, as property tax. This can be applicable as long as there’s been no addition or alteration of the property between 2 taxation years.

If the homeowner makes a construction or alters any feature of his/ her property, he/she’ll then ought to mention it within the self-valuation kind. If he defaults and his statement doesn’t match with reality, the civic body would possibly charge a high penalty. The KMC also will send an objection kind where the taxpayer will make a case for the grounds of his objection to the prevailing tax rate.

Those who settle for a flat 10 percent hike on AV (in case where the standing of the building remains unchanged) are going to be sent a revised tax bill. On the opposite hand, people who have created changes (additions or alterations) on their premises are going to be sent a contemporary tax bill based mostly on their declarations. And people who don’t can submit the objection kind which will then visit the KMC judgment department for special hearing by the KMC-appointed officers.

The plan is to try away with the prevailing inspector raj and keep religion on the taxpayers during a bid to form the system clear. We wish the taxpayers to return forward and clear their taxes. To inspire them to pay taxes on time, we should always not create unjustified hike in property taxes.

The move is being viewed as a precursor to the unit area-based evaluation system rather than the prevailing general revaluation. However, the switch to the unit area-based system is nevertheless to return as a result of the KMC has not been ready to mop up pending taxes and update to the extent that it will shut the account before switching over to the new system.

Civic bosses are busy updating property tax records of quite five lakh property. Keeping in mind the UAA system, we have a tendency to had stopped GR of the property. Currently we would like to update the records which is able to pave the approach for introduction of the UAA system. The KMC evaluation department can scrutinize the self-evaluation forms and tally information with the building department data. If we discover anomalies with the forms, we have a tendency to could send inspectors to seek out the reality. Once the news system (self-declaration) comes into impact, revenue generation for the civic body can increase considerably. This are going to be a clear system and can fetch a lot of revenue than we have a tendency to are collecting currently.

Vinay Jain - About Author:
PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in Kolkata.

Article Source:
http://www.articleside.com/real-estate-articles/kolkata-municipal-corporation-to-form-property-tax-assortment-clear.htm

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