BBMP Property Tax Amendment Bill passed, penalty on tax dues to come down in Bengaluru

The Bengaluru City Development Ministry has successfully passed the BBMP Amendment Bill 2024, reducing property tax penalties by 50% within Bengaluru city limits. The Deputy Chief Minister D.K. Shivakumar presented the bill, which will alleviate a substantial financial burden on Bangaloreans and save an estimated Rs 2,700 crore. The amendment aims to benefit 13-15 lakh people, including tax payers, those outside the property tax bracket, and partial property tax payers.

The Amendment Bill will have a far-reaching impact, particularly for the 5.51 lakh tax payers and 3 lakh partial property tax payers in Bengaluru. Additionally, the bill includes provisions for a special rebate for low-income groups, exempting government residential buildings, buildings in slums, and properties up to 1,000 square feet used for personal purposes from property tax penalties.

Furthermore, the amendment also reduces the maximum period for property tax penalties on residential and mixed-use properties from an indefinite duration to a maximum of 5 years. Beyond this period, interest on dues will be waived.

Deputy Chief Minister D.K. Shivakumar emphasized the people-centric nature of the amendment, stating, “This is a taxpayer-friendly amendment. We have brought this Bill to help the common people though it is a burden on the government.” The passing of the BBMP Amendment Bill 2024 marks a significant relief for Bangaloreans, signaling a positive stride towards easing the financial strain on property owners within the city limits.