Hyderabad: The Secunderabad Cantonment Board is inching closer to its property tax target for this financial year. The department of SCB has netted Rs 20 crore by purusing tax payers and issuing demand notices beginning with assesses whose evaluation exceeds Rs 50,000.Rs.26 crore from 36,000 tax-assesses this year.
“Following revalution of property tax rates, we began issuing notices. Individuals not satisfied with their assessment are now approaching us for negotiations”, an official.
Nearly 500 such applications were known to be submitted seeking clarifications and protesting against the assessment. Meetings are being held to discuss the representations and if found a fit case, the CEO has powers to make a limited tax exemption, the official explained.
Efforts to increase collections have been stepped up this year given the earning potentials the authorities have realised. During a recent board meeting, the CEO remarked that property tax compliance in SCB falls shy of 40 per cent.
Last year, SCB collected Rs. 17 crore in property tax. With complete compliance, the area can realise a revenue potential of Rs. 100 crore, the CEO had said