The revision of the property tax structure of Vizag doesn’t seem to have gone down well among various organizations. The revised tax structure is primarily based on levying tax at the property’s market price and saw the coming together of several organizations to stage protest against the Greater Visakhapatnam Municipal Corporation (GVMC).
Residential organizations, bodies, and welfare associations took part in the protest of the hike in property tax at the Alluri Seethama Raju statue in Seethammadhara, Vizag. These protests are being held to withdraw the new draft of levying tax on the market price of the property and shift back to the system of levying a tax to the property’s annual rental value. Speaking on the occasion, General Secretary of Visakhapatnam Apartments Residents Welfare Association (VARWA) B.B. Ganesh said that as per the new tax structure, honest taxpayers will have to shell a fortune to the tune of five to six times the original sum. Expressing agony over the issue, the General Secretary of VARWA also sought a debate on the property and in the GVMC council and demanded a people’s friendly decision.
The new property tax regime was in effect from 1 April 2021. The proposed tax structure dictates a levy of 0.15% of the market value of the residential buildings, 0.3% on non-residential or commercial buildings, and 0.5% on vacant lands.
The new tax regime on the property has been drawing flak since its rollout in Vizag. Various political bodies and units staged protests at the GVMC office demanding its withdrawal. Previously, because of the initial surge against the new tax structure, GVMC commissioner, G Srijana asked the public to voice their opinion and objection against the same by writing to GVMC main office or drop a mail at [email protected]. The GVMC officials have also promised to scrutinize the objectives and opinions and issue a final notification on the same.