The same is applicable for people involved in commercial activity. "People have to maintain greenery around their areas either by planting a few saplings or maintaining a garden. They can earn a rebate of 1% in property tax, which will also help in keeping the area green. The horticulture department of corporation will monitor the areas and based on its survey, we will select the people who qualify for the rebate," said Sood.
South Corporation has also agreed to implement the third Municipal Valuation Committee (MVC) report, which will bring a lot of commercial properties under A-category helping the corporation to generate more revenue from tax.
Corporation officials said the MVC report will impact commercial properties more. "MVC report depends on three factors-base area value, use factor and occupancy factor. For residential properties, there is no change in base area value and use factor, as a result owners have nothing to worry about. It will affect malls, airport, five-star hotels in remote areas. These will be brought under A category which will increase their tax by at least six times," said Ram Mohan Singh, additional commissioner (assessment & collection).
SOURCE: ETRealty.com
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