Bangalore Property Tax One-Time Settlement Scheme Extended until July 31, 2024.

Bangalore Property Tax One-Time Settlement Scheme Extended until July 31, 2024.

As of June 12, 2024, the BBMP has prolonged its one-time settlement (OTS) program for property tax defaulters until July 31, 2024. This initiative allows tax payment with a 50% penalty and a complete waiver of interest. Originally set to end on May 31, the extension aims to alleviate the burden on property owners. 

Deputy Chief Minister D.K. Shivakumar, responsible for Bangalore City Development, clarified on June 10, 2024, that the BBMP refrained from pressuring property owners to pay taxes during the Lok Sabha elections. With jurisdiction over more than 20 lakh building owners, of whom about 4 lakh owe taxes, the BBMP will grant khata to owners 90 days post-tax payment. 

Deputy CM Shivakumar emphasized no further extension beyond July 31. Over 50,000 individuals have availed themselves of the scheme to settle their property taxes. Those failing to pay by July 31 will be classified as defaulters from August 1 onwards. Official projections suggest BBMP's tax collection target stands at Rs 5,200 crore, but only Rs 1,300 crore has been amassed thus far. 

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