One-Time Settlement, Self-Assessment Scheme boost BBMP property tax revenue

Bengaluru: The One-Time Settlement (OTS) Scheme for property tax defaulters and the revision of the Self-Assessment Scheme (SAS) have boosted the BBMP’s revenue to Rs 3,065 crore in just four months — an increase of Rs 608 crore compared to the same period last year.

This puts the BBMP on track to meet its annual target of Rs 5,200 crore.

BBMP officials noted that around Rs 1,200 crore was collected in the last 10-12 days alone.

"In addition to the Rs 3,065 crore, we have received about Rs 150 crore through cheques and demand drafts,” said Munish Moudgil, Special Commissioner of BBMP’s Revenue Wing.

Out of the total revenue, Rs 217 crore was collected from property tax defaulters under the OTS scheme, while Rs 163 crore came from the SAS revision of just 6,000 properties.

Officials reported that 1.07 lakh properties have cleared their arrears, though 2.74 lakh properties still owe payments.

Due to a technical glitch on Wednesday — the final day to avail of the OTS benefit — many property owners were unable to pay their taxes. The BBMP has requested the government to extend the OTS deadline for a further 15 days.