Hyderabad

GHMC collects record Rs 1,917 crore property tax

The Greater Hyderabad Municipal Corporation (GHMC) this year has collected a record Rs 1,917 crore property tax so far, surpassing the previous year’s figures by an outstanding margin.

Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) this year has collected a record Rs 1,917 crore property tax so far, surpassing the previous year’s figures by an outstanding margin.

Related Stories
Sakshi Yadav Shines at the 8th Telangana Masters Inter District Swimming Championship 2023
Vote count for Telangana Assembly polls begins
AAP says it has worked wonders in MCD by collecting Rs 1,113 cr property tax 
Sonia Gandhi Extended Invitation to Contest Lok Sabha Seat from Telangana
Tension prevails at Saidabad Polling Station; Malakpet Congress Candidate Attacked

This year, GHMC has collected over Rs 257 crore more in property taxes as against the previous fiscal year, the Corporation Commissioner D Ronald Rose said in a release here on Monday.

The revised budget estimate for 2023-24 is Rs 1810 crores, out of which GHMC has successfully collected 1,917 crores so far, demonstrating a commendable effort in revenue generation.

Last year’s collection was Rs1,660 crore, a 15.5 percent increase compared to the last financial year 2022-23.

A pivotal factor contributing to this remarkable success has been the implementation of the One Time Settlement (OTS) scheme, enabling a 90 percent interest waiver on property tax arrears until the financial year 2022-23, the release said.

This initiative alone has resulted in the collection of nearly 300 crore this year, showcasing its effectiveness in incentivizing compliance among taxpayers.

Highlighting the sheer magnitude of last-minute collections, GHMC has recorded over Rs 123 crore on the final day alone, underscoring the collective effort and commitment of both taxpayers and GHMC officials.

This has been achieved even though it has largely been an election year with bill Collectors and tax inspectors playing crucial election duties such as BLOs and BLO supervisors.

Moreover, concerted efforts to address long-pending issues with both government and private entities have significantly contributed to streamlining the tax collection process and enhancing overall efficiency.

The corporation acknowledged the invaluable contributions of bill collectors, tax inspectors, Assistant Municipal Commissioners (AMCs), Deputy Commissioners (DCs), Zonal Commissioners (ZCs), and the central tax section, IT, and Finance wings at the head office.

Their tireless efforts have been instrumental in achieving this historic feat. The proactive involvement of special officers also has played a crucial role in achieving these record-breaking figures.

The GHMC expressed its gratitude to all taxpayers for their cooperation and compliance, which have been instrumental in this remarkable feat.

The corporation remains committed to its mission of enhancing civic amenities and infrastructure through sustainable revenue generation.

Back to top button