LS polls hit Corpn’s property tax collection, falls by Rs 37 crore

CHENNAI: The Greater Chennai Corporation (GCC) has collected Rs 334 crore property tax for the current fiscal year 2024 - 2025 till April 30.

Observing that Rs 371 crore was collected in April 2023, an official stated that the Lok Sabha election had impacted the tax collection in the initial period.

“It was difficult to collect taxes during the last financial year (20232024) as the election dates were announced, however, we managed to collect the property tax. Similarly, we had a tough time collecting tax from the public within the stipulated period for the current fiscal year due to election work,” a senior official told DT Next.

He further added, “So far, we have collected Rs 334 crore and we have given 5 percent incentives to those who paid the tax within the stipulated period. But compared to the previous year it has reduced by Rs 37 crore in April month. We have taken measures to intensify the tax collection from May.”

Besides measures for collecting tax, the city corporation has taken various steps to collect penalty charges from the property owners and organisations who fail to pay the tax. The local body has decided to issue notice to the defaulters to pay property taxes on time.

In the 2023-2024 financial year, the property tax collection has increased by Rs 44 crore compared to the fiscal year 2022-2023.

The Chennai Corporation has collected Rs 1,600 crore property tax in the financial year 2023- 2024. The highest property tax of Rs 315 crore was paid in the Teynampet zone (zone 9). The local body has fixed a target to collect Rs 1,750 crore property tax in the city for the current fiscal year.