Kolkata civic body clears proposal to hike property tax, Real Estate News, ET RealEstate
KOLKATA: The proposal for a modification of base unit area value under the Unit Area Assessment (UAA) system was passed in the Kolkata Municipal Corporation House on Saturday. It paved the way for a hike in the property tax rates of residential buildings and flats across the city.
Under the UAA system it is the base unit area value that primarily determines the tax on a property. Though there are other factors that are calculated to arrive at the final valuation of property tax, it is the base unit area value that makes up the lion’s share. Amenities and other factors are then considered to arrive at the final valuation.
According to a KMC assessment department official, they will now need to chalk out a plan and fix a date for implementation of a hike in the property tax.
“We had suggested a modification of all categories of properties based on their location and amenities. We are happy that the matter has been passed in the KMC House,” said a civic official.
