Telangana Government waives off 90% accumulated interest on property tax

Hyderabad: The State government on Tuesday decided to waive off 90 per cent of the accumulated interests on payment of property tax in all urban local bodies in the State.

The scheme is applicable if the tax payer clears principle amount of property tax dues till year 2019-20 together with 10 per cent of the interest accumulated arrears in one go in respect of non-government properties under one time scheme (OTS) in all the urban local bodies.

The Greater Hyderabad Municipal Commissioner wrote to the government stating that there were about 5.4 lakh property assessments where there was accumulation of Rs 1,477.86 crore arrears together with the interest amount of Rs 1,017.76 crore at the end of financial year 2019-20.

The commissioner said that the arrears have been accumulated over a period of past 15 to 20 years and there was immediate necessity to provide some kind of relief to the tax payers to motivate them in getting their accumulated property tax dues cleared.