Cash-strapped KMC hikes property taxes across Kolkata | Kolkata News – Times of India

KOLKATA: Faced with an acute revenue crunch, the Kolkata Municipal Corporation has decided to upwardly revise the property tax structure under the unit area assessment (UAA) system across the city, a move that will affect nearly 9 lakh property owners.
According to a KMC revenue department proposal that was approved on Wednesday at the mayor-in-council meeting, an across-the-board revision has been made in the base unit area value, which primarily determines the tax on a property. Though there are other factors that are calculated to arrive at the final valuation of property tax, it is the base unit area value that makes up the lion’s share. Amenities and other factors are then considered to arrive at the final valuation.

The KMC’s decision awaits the state’s nod.
The base unit area value, calculated on the basis of location, has been hiked between 10% and 15%, depending on the category of the property (between A and G). There’s even a proposal to create a new category for premium housing complexes, irrespective of location – “special housing projects”, which would attract the most tax.
For category A properties, the base unit area value has been increased from Rs 74 to Rs 82 per square foot per annum. Similarly, for category B properties, the rate has been revised from Rs 56 to Rs 62 per square foot per annum; For C, D and E categories, the revisions are from Rs 42 to Rs 47; Rs 32 to Rs 36; and Rs 24 to Rs 27 per square foot per annum. For F and G categories, the hike is from Rs 18 to Rs 20 and from Rs 13 to Rs 15 per square foot per annum.
The “special housing projects” will see the sharpest hike. An official said all such properties would attract the same base unit area value, in excess of Rs 80 per square foot per annum.