Interest on property tax waived

Hyderabad: In a good news for some property tax payers in urban localities, the Telangana state government on Friday issued orders waiving interest on arrears and current year property tax dues up to March 31, and paved the way for adjustment of interest already paid against future property tax.

The Municipal Administration and Urban Development Department issued GO 42, based on a request from the commissioner and the director of municipal administration and the GHMC, urging the state government to waive interest on arrears and on current year (2014-2015) dues as a one-time measure in the municipalities and corporations, including the GHMC, provided that the assessee pays the total arrears and current year property tax in one lump sum or in installments on or before March 31.

The state government also directed that if interest is already paid by tax payers on arrears and also on current year property tax demands during the year 2014-15, it will be adjusted towards the future property tax payments. No cash refund will be made.

The GHMC appealed to all property tax payers, who were waiting for the government nod on interest waiver, to pay their dues at the earliest. GHMC hopes to achieve '1,200 crore target due to the interest waiver.