Property tax in Mysuru to go up by 15 per cent from April 1
The Hindu
The revised rates will be fixed on the basis of the new guidance value
Property owners in Mysuru will now have to bear a hike of 15 per cent in property tax. A resolution this effect was adopted in the recent Mysuru City Corporation (MCC) Council meeting. “The new tax regime will come into effect from April 1, 2021”, MCC Commissioner Shilpa Nag told The Hindu. The revised property tax will be fixed on the basis of the new guidance value. “Hitherto, we were taking 50 per cent of the 2007-08 guidance value as the base for calculating property tax. But, the new Government Order states that we have to take the 2018-19 guidance value. However, in order to minimise the impact of the new tax regime, we will be taking only 25 per cent of the guidance value as the base value for tax calculation”, Ms. Nag explained.
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