Vadodara Corporation has implemented Advance Tax Rebate Scheme for property tax bills of the current year. Tax payers have benefited and the municipality has earned an income of 8.05 crores in the last five days.
Vadodara Municipal Corporation has started a waiver scheme from May 6 if the amount of property tax bill for the year 2023-24 is paid along with the arrears of the previous year. The amount of property tax can be paid personally in the office of any administrative ward number 1 to 19 and also online on the corporation’s website. The corporation believes that with the implementation of Advance Tax Incentive Rebate (VLAT2) scheme for the year 2023-24, about 8.20 lakh taxpayers of the city can take advantage of this scheme. 560 crore is estimated to come from property tax this year.
The corporation has earned an additional income of Rs 8.5 crore in the last five days with an additional income of Rs 1.83 crore on Wednesday due to the tax payers getting the benefit of this exemption scheme. Which includes residential and non-residential properties. The scheme will be valid for one month till June 5. To encourage people to pay advance tax amount online, an additional rebate of 1 per cent will be given for the first time. There is a property tax exemption of 10 per cent on residential property and 5 per cent on commercial property.
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