AMARAVATI: Municipal Minister Botsa Satyanarayana has asserted that the new tax hike will be limited to 15 percent of the existing rate in the State of Andhra Pradesh. Earlier while speaking to the media he urged the opposition parties not to create panic among the people and said the revised taxation system is proposed after considering the Centre’s recommendations, studying taxation system in other states, and feedback from Tax Payers’ Associations.
He also condemned the “false propaganda” by a section of media favorable to the opposition parties while writing negative reports in the new taxation system, the Municipal Minister asserted that the new tax hike would be implemented in the most transparent manner.
Property tax constitutes the single largest source of revenue to the urban local bodies (ULBs) in India. The present Government has, in line with the recommendations of the Central Government and the 15th Finance Commission, brought about some changes in the manner in which property tax is levied. The reform would also contribute to reducing complexity and enhancing transparency.