The Hindu Business Line : ‘Property tax rate revision unacceptable’

Madurai, Nov. 16 The Madurai Corporation should substantially reduce the proposed rates of property tax revision by the month-end, failing which a hunger strike would be organised along with other trade and industry bodies on December 2, the Tamil Nadu Chamber of Commerce and Industry, has announced.

At a general body meeting convened here on Saturday, the chamber demanded and adopted as a resolution that the maximum rates be fixed at 50 per cent for special buildings and 40 per cent for ordinary commercial and industrial buildings.

Revised rates

The Madurai Corporation had earlier announced an increase of 150 per cent for commercial buildings and 100 per cent for industrial buildings in the rates of property tax and the chamber, protesting the increase, represented the matter to the Minister for Local Administration, Mr M.K. Stalin, during his visit to the city to fix the rates as obtaining in other corporations, especially on the lines of revision effected by the Coimbatore Corporation. On October 30 last, the Madurai Corporation came up with the revised rates of 125 per cent for special buildings, 100 per cent for ‘A’ and ‘B’ commercial buildings and 75 per cent/100 per cent for industrial buildings.

Terming the reduction as marginal and unacceptable, the senior chamber President, Mr S. Rethinavelu, said the corporation officials contended that the revision was to ensure the payment of salaries to the staff and “we have told them that payment of salaries are not our worry and the taxes should be affordable by the industry”.

It was also pointed out at the meeting that reportedly around 20,000 buildings have not been brought under tax net and in many cases, under-assessed and if these were corrected, there would be no need for the corporation to revise the tax at all.

More Stories on : Taxation | Real Estate & Construction | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page