The South Delhi Municipal Corporation (SDMC) has decided to roll back the increased rate of taxes for non-residential properties measuring less than 150 Square metre for the financial year 2018-19. The properties in question will henceforth be levied tax as per rate applicable in their respective category of colony i.e. 10, 12 and 15 per cent instead of increased rate of 20 per cent taxes, mentioned in the original schedule of taxes for the financial year 2017-18.
It may be recalled that the rates were increased for the financial year 2018-19 in respect of all shops, offices showrooms and warehouse having covered area of less than 150 Square. SDMC Mayor Narender Chawala said that the new rates will come into force with immediate effect.
SDMC Standing Committee Chairperson Shikha Rai said that the schedule of taxes for the financial year 2018-19 has been modified in order to provide relief to the owners/occupiers of shops, offices, showrooms, including warehouses from where woods are sold. “The owners of the properties will have to pay property tax for the financial year 2018-19 at the rate of taxes applicable in the financial year 2017-18, hence, there will be no hike in the rate of property tax,” she said.
Rai also said that the excess amount of property tax already paid till date on this account in respect of above properties will be adjusted during financial year 2019-20. She added that around 30000 property owners will be benefited with this liberal decision of SDMC. She further stated that the civic body wanted to give relief to the small commercial property owners with an aim to protect them from any enhanced amount of property tax.
Meanwhile, the East Delhi Municipal Corporation (EDMC) announced a rebate in property tax to neutralise the effect of increased tax rate due to implementation of recommendations of 3rd Municipal Valuation Committee (MVC).
Mayor of East Delhi Bipin Bihari on Monday said that the rebate in property tax is being offered as per the recommendations of 1st Municipal Valuation Committee (MVC-I).
As per the new provisions, commercial and non-residential properties of 139.35 square meters or more will fall under A category and are granted exemption equivalent to pre-existing MVC-I, he said.
He further said that the rebate is also available on all industrial properties comes under B category as per the recommendations of MVC-I.
The EDMC has already extended deadline for filing property tax from 30 June to 31 July to claim the rebate of 15 per cent.