The standing committee of North Delhi Municipal Corporation today proposed a reduction in property tax rate to 15 per cent for residential farm houses, from the 20 per cent rate suggested earlier during the annual budget presented by the NDMC commissioner.
The committee made this decision while finalising the revised budget estimates for 2015-16 and budget estimates for 2016-17.
As per budget estimates for 2016-17, property tax rate on residential farmhouses was proposed to be 20 per cent which was lowered by the standing committee to 15 per cent. For non-residential farmhouses, the proposed property tax rate has been kept intact at 20 per cent, the NDMC said.
In case of residential properties, the rate has been maintained at 14 per cent in case of 'A' and 'B' categories of colonies, 12 per cent (C,D and E) and 7 per cent (F, G and H categories).
The proposed tax rate of 15 per cent for non-residential properties, including doctors' clinics and industrial properties measuring less than 150 m, has been revised to 12 per cent in case of 'G' and 'H' categories.
The rebate on payment of full tax on property by June 30 of the year will now get 10 per cent rebate instead of the existing 15 per cent.
The existing 30 per cent rebate on property tax in case of senior citizens, women and physically-challenged persons, owning singly or jointly-covered property on 100 sqm, has been revised to 20 per cent.
The rebate to Cooperative Group Housing Societies on one-time payment of property tax has also been revised from existing 20 per cent to 10 per cent.
