GHMC Sets New Record with Property Tax Collections, Surpassing Previous Year’s Figures

Hyderabad, April 1 (Maxim News) : The Greater Hyderabad Municipal Corporation (GHMC) has achieved a remarkable milestone in property tax collections, surpassing the previous year’s figures by an outstanding margin. This year, GHMC has collected over 257 Crores more in property taxes compared to the previous fiscal year.

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The revised budget estimates for 2023-2024 is Rs.1,810 Crores, out of which GHMC has successfully collected Rs, 1,917 Crores so far, demonstrating a commendable effort in revenue generation. Last year’s collection was  Rs. 1,660 Crores, 15.5% increase compared to last financial year 2022-2023.

A pivotal factor contributing to this remarkable success has been the implementation of the One Time Settlement (OTS) scheme, enabling a 90% interest waiver on property tax arrears until the financial year 2022-23. This initiative alone has resulted in the collection of nearly 300 crore this year, showcasing its effectiveness in incentivising compliance among taxpayers.

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Highlighting the sheer magnitude of last-minute collections, GHMC has recorded over Rs. 123 crore on the final day alone, underscoring the collective effort and commitment of both taxpayers and GHMC officials. This has been achieved despite the fact that it has largely been an election year with the Bill Collectors and Tax Inspectors playing crucial election duties such as BLOS and BLO supervisors.

Moreover, concerted efforts to address long-pending issues with both government and private entities have significantly contributed to streamlining the tax collection process and enhancing overall efficiency.

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GHMC acknowledged the valuable contributions of Bill Collectors, Tax Inspectors, Assistant Municipal Commissioners (AMCs), Deputy Commissioners (DCs), Zonal Commissioners (ZCs), and the central tax section, IT, and Finance wings at the head office. Their tireless efforts have been instrumental in achieving this historic feat.The proactive involvement of special officers also has played a crucial role in achieving these record- breaking figures.

The GHMC expresses its gratitude to all taxpayers for their cooperation and compliance, which have been instrumental in this remarkable feat. The corporation remains committed to its mission of enhancing civic amenities and infrastructure through sustainable revenue generation. (Maxim News) 

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