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Secunderabad Cantonment Board (SCB) officials are working to collect property taxes from at least 30,000 residential and commercial properties in the area, with the deadline for payment just 10 days away. The SCB tax wing has been working hard to recover tax and has issued demand notices to defaulters to replenish the board's coffers and overcome a funding shortage.
For residential properties, the SCB calculates the annual rental value (ARV) by multiplying the total built-up area by the square-feet rate for 12 months. The final demand notice (annual property tax) is then determined by multiplying the ARV by 24.6%, which includes the cumulative tax percentage of house tax, lighting tax, conservancy tax, and library cess. The approximate rate per Sqft varies between 1.8 and 3 depending on the building type, whether it is an RCC posh or ordinary building.
On commercial properties, the ARV is calculated based on the total built-up area of the property. The SCB tax wing has fixed the ARV at 27.6% of the cumulative tax of house tax, lighting tax, conservancy tax, library cess, and special conservancy tax. Officials have been collecting between 3 and 40 per Sqft on commercial properties, depending on the type of building and location of the property, whether it is abutting the main road or otherwise.
To ensure that property owners pay their taxes, special teams were dispatched in January to serve demand notices. Property owners have until March 31 to pay their taxes, after which the SCB tax wing will submit a list of defaulters to the chief executive officer. The CEO will then decide whether to impose a penalty or attach the property of the defaulters.
It is important for property owners to pay their taxes on time to help fund the services provided by the SCB, such as road maintenance, garbage collection, and lighting. Failure to pay property taxes on time can result in penalties and even the seizure of the property. The SCB is committed to ensuring that all properties are properly taxed and that the funds collected are used to improve the lives of residents and businesses in the area. In addition to collecting taxes, the SCB is also focused on ensuring that all properties are up to code and that safety regulations are being followed.
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