The Greater Visakhapatnam Municipal Corporation [GVMC] approximately realized Rs. 120 crores property tax for the current fiscal year in comparison to the collection of Rs. 97 crore of the 2017-18 financial year. This amount includes both property tax as well as the vacant land tax.
This gave 23% approximate increase in the property tax collections. GVMC also set the target of Rs. 300 crores property tax in comparison of Rs. 260 crore which was collected last year via new assessments and revision of tax structure for some households. Similar to which, the Greater Visakhapatnam wish to collect property tax within prefixed tenure that includes regular deposition of property tax inspite of enforcing machinery for special tax collection drives at the end of September and March.
R Somannarayana, deputy commissioner (revenue) of Greater Vizag also stated that the corporation has sought 11,000 new assessments who have added to the tax net for the current fiscal year. Commissioner further said that GVMC has also reviewed the system in order to strengthen the current property tax collection system especially to minimize the current time-taking process to a quick tax deposition system.
The Greater Visakhapatnam Municipal Corporation has also issued 6,000 notices, 700 warrants and 2,000 property-sealing notices to property owners of the city in the past fiscal year.
In order to increase the property tax collection amount the corporation has tried many ways and now is in the process to introduce GIS-based maps of urban properties in the Vizag city, which has a total of 5 lakh assessments. The GIS-based technique is likely to have an addition of geo-coding of property which will be linked with the details of property, water, trade and advertisement taxes, unassigned properties, vacant lands and government properties. The idea behind introducing GIS-based technique is to combat the irregularities in property tax collection.