10% tax hike every 5 yrs comes into effect

Kolkata: Following a bill passed in the state legislative assembly last year, the state govt has put the five-yearly 10% property tax hike into effect from April 1 as an interim measure until a new assessment list of properties is finalised by respective urban local bodies.
The enhanced annual valuation of properties comes into effect in all civic body areas across the state, except the Kolkata Municipal Corporation (KMC). The department is sending letters to all civic bodies to work out the modalities.
Officials said that land prices were soaring in several municipal areas in and around the city, but the rate of property tax was not increasing simultaneously. "The aim is to streamline property tax calculation and to have greater compliance in tax payment, keeping in sync with the market price of land," the official added.
A BMC official said they had received the order and were now discussing the modalities. "The matter is being discussed," the official said. The authorities will stop property tax collection through online mode from Saturday midnight to start preparing tax bills for the 2025-26 financial year.
In New Town, an NKDA official said that the board will soon decide on the matter. "Valuation of properties in New Town was last done in 2018. A proposal was initiated for fresh valuation for which a committee will be formed. Till then, tax will be hiked by 10% as an interim measure," said an official.