Daijiworld Media Network - Mangalore (SP)

Mangalore, Oct 19: In a move that promises to bring a big relief to the residents of the city, mayor Shankar Bhat exuded confidence that the property tax rates within the city, which has been facing stiff resistance from the people since it was mooted a few years ago, and implemented from April last, will go down by about 50%. An announcement about the new tax rates can be made after the state government takes a firm decision, he explained.

He disclosed that the directorate of municipal administration and the department of urban development have already given their nod for a 50% cut in the property tax. A meeting of the mayors of the seven city corporations in the state will be held on Thursday, in which the Chief Minister and the urban development minister will take part. Thereafter, the in-charge minister of the district and the local MLAs will meet the Chief Minister, he disclosed. He expressed the hope that a decision on the tax rates will be taken at the next cabinet meeting. "The cabinet meeting scheduled to be held earlier and where this was to be an issue slated for discussion, had to be postponed because of the flood situation  in North Karnataka," he said.

"Perhaps with the expectation that the property taxes will fall, only 18% of the people have paid their taxes so far.  Once a definite decision is taken, we expect tax collections to soar. As against the earlier projected collection of Rs 40 crore under the property taxes, I feel, we can revise the target downwardly to Rs 30 crore during this fiscal," he felt.