BENGALURU: Today is the last day to collect property tax for the year 2024-25. If the owners fail to pay tax by tonight, they will have to pay tax with a 100 per cent penalty. Property owners will have to pay a penalty equal to the amount of property tax along with a 15 per cent annual interest.
The Bruhat Bengaluru Mahanagara Palike (BBMP) has set a target to collect Rs 5,210 crore in property tax for the financial year 2024-25. However, so far, only Rs 4,604 crore has been collected.
The BBMP officials are preparing to collect double the tax as penalty from those who fail to pay their property tax by the deadline. The BBMP has given property owners until March 31 to pay their taxes.
For instance, if the property tax is Rs 1,000, then Rs 2000 plus 15 per cent interest will have to be paid if it is not paid within the deadline. So, if residents haven’t paid property tax yet, they can pay it today to avoid paying double the amount tomorrow.
