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March 12
Deputy CM D.K Shivakumar Unveils New Property Tax System for Bengaluru
Bengaluru: Deputy Chief Minister D.K. Shivakumar unveiled plans for the introduction of a new property tax system by the Bengaluru Mahanagara Palike (BBMP), set to take effect from April 1.
The announcement came as Shivakumar launched several initiatives, including the trust map (trust verification system), a new property tax system, and a khata system aimed at streamlining property-related processes within the BBMP limits.
Under the new property tax regime, property taxes will see an increase for the first time in eight years, with rates set to rise by a minimum of 5.3% and a maximum of 8.2%. Property tax calculations will be based on the duration since the construction of residential and non-residential buildings.