Kolkata: Mayor Firhad Hakim sought an assessment of if the implementation of a graded property tax waiver structure has resulted in diminished property tax collection. Hakim convened a review meeting on Wednesday with senior officials from various revenue-generating departments.
A source from the KMC assessment department revealed that during the meeting, Hakim expressed his expectation for the assessment and advertisement department officials to achieve revenue growth. Hakim specifically enquired about the possibility of reassessing the graded waiver structure introduced the previous year.
The KMC assessment department, in collaboration with the mayor and municipal commissioner, had formulated a proposal last year stipulating that property tax defaulters settling their entire outstanding amount within two years would receive a 50% interest waiver and 99% penalty waiver on the outstanding sum. Defaulters clearing dues within five years would be eligible for a 45% interest and 75% penalty waiver. Those settling outstanding dues after five years would receive 35% interest and 50% penalty waivers. Defaulters clearing dues after ten years or more would be entitled to 30% interest and 25% penalty waivers.
A KMC assessment department official explained that these regulations were established to promote timely payment of outstanding property tax dues whilst conveying a message to habitual defaulters about punctual payments.