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Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has fallen short of its tax collection target for 2021-22 by Rs 175 crore.
As compared to the property collection of Rs 1,633 crore in the previous financial year (2020-21), the civic body managed to amass Rs 1,458 during the ongoing financial year (2021-22).
According to a GHMC press release, the total assessments in GHMC are about 17,72,503 out of which 12.55 lakh property owners paid the tax. In 2021, the civic body collected to the one-time settlement (OTS) program, which generated approximately Rs 250-Rs 275 crores.
A waiver of 90 percent of accumulated interest on arrears of the property tax was given, provided the entire arrears were cleared at once. During the current financial year, the civic body managed to garner only Rs 1,455 crore while the target was Rs 1,850 crore.
This post was last modified on April 1, 2022 3:46 pm