Revision of tax rates is according to the City Corporations Act (amendment), 2021. Photo Credit: Ma Sriram
City Corporation (MCC) increased real estate tax rates by at least 3% from the financial year 2025-26.
The statement of Commissioner MCC Shaikh Tanveer Asif said that revised real estate tax rates would come into force from 1 April. Instructions were issued to update the revised real estate tax rates in the property calculator by the end of March 2025.
According to the Carnataka Municipal Corporations Act, the revision of the tax rates is a 2021, which sets an increase in real estate tax by 3% to 5% of the instructions.
5% off
The Commissioner’s statement also noted that real estate taxpayers who pay tax in the first month of the financial year, ie in April 2025, will be entitled to a 5%discount.
During the recently presented MCC budget, the object of the property tax was set at 252.60 GBP for 2025-26.
During the previous year in 2024-25, real estate tax was projected on Crore 204.80 GBP and MCC selected Crore 211.59 GBP by the end of December 2024.
Published – 29 March 2025 20:26
