Hyderabad: Officials of the Secunderabad Cantonment Board (SCB) proposed to revise the three-decade-old property tax rates for residential and commercial buildings, to bring them on par with GHMC rates. The discussion came during a board meeting here on Thursday.
"We propose to enhance the tax rates to a flat 30 per cent for residential and commercial properties, to bring them on par with the neighbouring municipal corporation," said B. Ajith Reddy, chief executive officer, SCB, during the meeting.
The property tax rates have not been changed in SCB for the last 30 years. With around 20,000 properties, the board collects nearly Rs 30 crore as property tax.
Currently, a consolidated tax rate of 24.60 per cent is being levied on residential buildings while it is 27.60 per cent on commercial buildings. A house tax of 15 per cent, conservancy tax of six per cent, lighting tax of three per cent and four per cent of house tax are levied towards library cess for residential properties. For commercial properties, an additional three per cent special conservancy tax is levied.
It was decided during the meeting that a comprehensive study on the hike proposal would be conducted under the supervision of Vijaykumar Balan Nair, deputy chief executive officer, SCB. The proposal is likely to come up for consideration in the next board meeting.
