The North Delhi Municipal Corporation (NMC) Budget estimates for 2018-19 were presented by Commissioner Madhup Vyas on Tuesday with the proposal of a single slab of 15 per cent for residential and 20 per cent for commercial property taxes.
As per the recommendations of the second and third Delhi Finance Commission, a betterment tax at the annual rate of 15 per cent was proposed by the Commissioner for financing infrastructure works, development of transportation facilities and redevelopment of colonies. The professional tax would come under three categories of Rs 1,200, Rs 2,400 and Rs 2,500 per annum, he said, adding that a special cell would be formed to compare database and realise the tax from processionals living in the NMC area.
The Commissioner also proposed simplification and rationalisation of property taxes. There are eight categories of residential properties and taxes ranging from 7 to 12 per cent and the proposed 15 per cent tax on residential properties will cover all these categories. The current rate is 15 per cent, which is proposed to be enhanced to 20 per cent for all categories of commercial properties.
The Budget estimates to collect Rs 725 crore in 2018-19. The rebate on one-time payment of property tax by June 30, is proposed to be slashed from the existing 15 per cent to 10 per cent.
The Commissioner in his budget estimates also proposed various proposals in different areas, including education, health and sanitation including installing 20,000 CCTV cameras in sensitive areas of the north Corporation with funds from a Central Government scheme.
Besides, parking facilities would also be developed further with multi-storey parkings at the Shiva Market (Pitampura) and Rani Bagh besides providing basement parkings at ground level facilities at Gandhi Maidan and Chandni Chowk.
The Commissioner also said that community toilets in its areas would be handed over to private agencies for proper maintenance.