SPIDEY BUZZ

Will MCG spell respite for residents with property tax waiver?

Photo: Elevate-your-life.blogspot.in
Posted: Mar 09, 2018

At the House meeting of Municipal Corporation of Gurugram (MCG) recently property tax exemption for widows, differently abled people, and those living in buildings smaller than 100 square yards was discussed among other things.

The issue assumes prime importance because not only of its emotional appeal but also due to the fact that property tax is main source of income for MCG.

But the city is hopeful of a favourable decision.  

If the councillors and officials approve the exemption, the matter will be forwarded to the state government for final approval.

“My father died 20 years ago and my mother, who was in the government services, has been paying the property tax, and that eats into a significant part of her annual pension. MCG waiver can ease life for a lot of people,” said Bhanu Sharma, a resident of Civil Lines.

The decision, however, could have a significant impact on the future of the development projects.

Over the past year, the MCG has given Rs 500 crore to the Gurugram Metropolitan Development Authority (GMDA), and Rs 140 crore to the National Highways Authority of India (NHAI) for the development of three underpasses on the Delhi-Gurgaon Expressway.

It collected Rs 472.13 crore in property tax last year — the highest so far. If the exemption is approved, the overall revenue from tax recovery will certainly witness a dip — a fall that MCG can ill afford.

MCG commissioner Yashpal Yadav, however, dismissed the reports of “shortage of funds”.

TAGS: MCG / Waiver / Property Tax / Residents / Municipal Corporation of Gurugram / Tax Exemption

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