‘It will lead to enhancement of tax by many times’
The draft notification issued by the Greater Visakhapatnam Municipal Corporation (GVMC) for implementation of ‘Rules for imposition of Property tax – 2020’ will lead to imposition of heavy burden on the Vizagites and is illegal and undemocratic, said members of Visakhapatnam Apartment Residents Welfare Association (VARWA).
In a release on Tuesday, VARWA president N. Prakash Rao and Secretary B.B. Ganesh said that the VARWA is seriously opposing the changes and is demanding withdrawal of the notification.
“Imposition of property tax based on the annual rental income which is currently in vogue, is now being replaced by capital value of the property. It leads to enhancement of tax by many times. Since the government revises the property values every year, property tax is also bound to increase every year,” the members said.
The VARWA said that the tax quantum will be unbearable for the poor people, apartment dwellers, small and medium traders and professionals. They also found fault with the issuing of the notification when people are facing problems due to the COVID second wave.
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