Property tax: Civic body makes Rs 3 cr in 15 days

Despite the threefold increase in the property tax rates, the Municipal Corporation has received over Rs 3 crore in the past 15 days.

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The UT Administration had increased the property tax on residential properties for the assessment year 2025-26 three times the existing rate, amounting to 9 per cent of the annual rateable value (ARV).

The tax on commercial and industrial properties will now be charged at 6 per cent of the ARV, which has doubled now. However, government-owned properties are exempt from this hike. The rates became applicable from April 1, 2025.

The Municipal Corporation has announced 20 per cent rebate for residents who will deposit the tax within two months. The MC has over 1.42 lakh registered properties in Chandigarh. It receives about Rs 58 crore revenue annually on account of the property tax, which it is expecting to increase up to Rs 150 crore in case the hike is not withdrawn. Earlier this year, the MC had proposed a fourfold increase in the property tax across all categories. However, the proposal faced opposition from all councillors and was rejected.