Property tax assessment by professionals – BBMP
The new financial year has just begun and this time the Bruhat Bangalore Mahanagara Palike (BBMP) has decided to rein in on those evading taxes by declaring the false property measurement.
The BBMP has decided to outsource the process of fresh measurement of each property to the members of the Institution of Engineers (IOE) and Institute of Valuers (IOV).
The Chief Minister ordered a re-survey of the undervalued properties and those that evaded the tax-net. BBMP commissioner M Lakshminarayana recommended considering the Mahadevpura zone on a pilot project basis but the BBMP’s standing committee on taxation and finance recommended the procedure for the entire city.
Taxation and Finance Committee chairman, V Anand, wrote a letter to Mayor N Shanthakumari on January 1 expressing doubts over property declaration under the self-assessment scheme. The mayor then directed the commissioner to take necessary steps to take on tax evaders.
According to the deputy commissioner (revenue) – Venkatachalapathy, there are around 16 to 17 lakh properties under the BBMP jurisdiction and only 60 percent of the owners pay taxes regularly. “(Tax evaders) will be penalised,” said Lakshminarayana.
According to the plans, the IOE and IOV members will work directly under the zonal joint commissioner. The team of engineers and valuators will examine each property to bring tax collection under one roof. These engineers and valuators will be given 20% commission and their services will be used for one year only.
The standing committee has recommended properties measuring above 50×80 for review. A meeting held under the chairmanship of Anand, recommended inviting tenders for considering ISO-certified engineers and valuators.