95 pc interest waiver on pending property tax evokes good response

Lokmat News Network

Chhatrapati Sambhajinagar:

The municipal corporation launched a scheme offering a 95 per cent waiver on interest for pending property taxes starting July 15. On the very first day, ₹1.17 crore was collected. On the second day (Wednesday), 967 property owners availed the benefit of the scheme and paid a total of ₹1.33 crore across the 10 zone offices of the corporation. Notably, the rush to pay taxes at zone offices was unprecedented. Property owners are now demanding an increase in the number of cash counters at each zone office to reduce wait times.

In the last five years, the civic administration had not introduced any interest waiver scheme. As a result, pending property tax holders were being charged compound interest at a rate of 24 pc. For many, the accumulated interest far exceeded the original tax amount. Citizens had repeatedly urged the administration to introduce a waiver scheme. Responding to these demands, administrator G Sreekanth launched the “Shasti Se Azaadi” (Freedom from Penalty) scheme, which runs from July 15 to August 15 and offers a 95 pc waiver on interest provided the entire outstanding tax amount is paid in one go. From August 16 to September 16, the interest waiver will be reduced to 75 pc.

As soon as the scheme got announced, 778 property owners paid ₹1.17 crore on the first day. On Wednesday, long queues formed at zone offices, and by 7 pm, 967 individuals had paid ₹1.33 crore. Citizens have demanded that more cash counters be opened to facilitate faster processing of payments.