Indian Express Update

A bill to amend the Karnataka Assembly to reduce the penalty on property taxes in Bengaluru by fifty percent has been passed

<p>On Tuesday, the Karnataka Assembly passed a measure aiming to reduce the penalty on property taxes collected inside the municipal borders of Bengaluru. The measure that Deputy Chief Minister D K Shivakumar introduced in the Assembly proposed a fifty percent decrease in the property tax penalty.</p>
<p><img decoding=”async” class=”alignnone wp-image-427796″ src=”” alt=” a bill to amend the karnataka assembly to reduce the penalty on property taxes in” width=”994″ height=”560″ title=”A bill to amend the Karnataka Assembly to reduce the penalty on property taxes in Bengaluru by fifty percent has been passed 6″ srcset=” 720w,–390×220.jpg 390w,–150×84.jpg 150w” sizes=”(max-width: 994px) 100vw, 994px” /></p>
<p>The Bruhat Bengaluru Mahanagara Palike (BBMP) Amendment Bill 2024, which was approved by the Assembly, would assist those residing inside Bengaluru city boundaries in avoiding fines of Rs 2,700 crore, according to PTI.</p>
<p>The Deputy Chief Minister’s office published an official statement stating that the BBMP would now be allowed to collect fines of Rs 1,000 crore after the Amendment Bill was enacted. According to the statement, the revision would benefit around 13 to 15 lakh Bengaluru city residents, including 3 lakh partial property taxpayers, 5 to 7 lakh persons who are not subject to property taxes, and 5.51 lakh taxpayers.</p>
<p>Former Chief Minister Basavaraj Bommai responded to the new law by stating that the BJP will continue to oppose it because it thinks the move would result in widespread corruption.</p>
<p>It is anticipated that the measure will assist in giving the less fortunate members of society some respite. Notably, slum structures and government residential buildings are exempt from property tax obligations.</p>
<p>In addition, owners of residential and mixed-use properties are subject to property tax penalties, which are only applied for a maximum of five years, regardless of the default length. Additionally, there is no interest charged on payments made after five years.</p>
<p>In his speech before the Assembly, Shivakumar said, “This amendment is taxpayer-friendly.” Despite being a burden on the government, we presented this Bill to aid the general public. The government’s recent modification to the law has greatly lessened the penalty load on property owners.</p>

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