60,000 Kolhapur property owners to benefit from KMC Realty tax fine waiver, Real Estate News, ET RealEstate

KolhapurOwners of over 60,000 properties in Kolhapur city can avail 50% waiver on fine after paying the principal amount and half the fine along with property tax dues, officials said.

Political parties cutting across party lines demanded an amnesty scheme for property tax and water tax defaulters. While the decision on waiver of property tax has been taken, the decision on water tax is awaited. Kolhapur city has 1.45 lakh properties. Owners of over 60,000 properties owe over Rs 25 crore, excluding the penalty, which is levied at 2% for every month of delay in payment.

Kadambari Balkawade“The window to avail the amnesty scheme opens on Thursday. Those paying between February 9 and February 28 will get a 50% discount on the fine amount. Those paying later till March 31,” said a civic administrator. There will be a rebate of 40% on the amount of the penalty. Those who have already paid the dues will not be eligible for the rebate. The rebate is applicable for tax defaults on all types of properties.

KMC Issues bills for property tax in April and May. Owners who pay tax within the first quarter of the financial year get a concession of up to 8%. The discount is reduced by 2% for every quarter thereafter. The discount is applicable on the principal amount payable.

The KMC has set a property tax target of Rs 99 crore for 2022-23.

Balkawade said defaulters who fail to clear dues by March 31 will receive pre-forfeiture notices. Also, the dues will be noted on the property documents so that the owner has to clear the dues before taking a loan or selling the property.

Before this, about 68 thousand people have taken advantage of the property tax concession scheme. KMC is also making efforts to make citizens aware about the property tax concession scheme, issue notices to big defaulters and attach properties of old defaulters.