BBMP Extends Deadline for Property Tax One-Time Settlement to November 30

BENGALURU (AP) — The Bruhat Bengaluru Mahanagara Palike (BBMP) has extended the deadline for the one-time settlement (OTS) of outstanding property taxes for the second time, now pushing the date to November 30. This extension aims to help the BBMP reach its annual revenue target of ₹5,200 crore.

The OTS scheme, which began in February, provides relief to property owners with outstanding taxes by waiving off interest and reducing penalties by up to 50%. Initially set to end in July, the deadline was first extended to September and has now been further extended to the end of November.

Key Details of the Extension:

New Deadline: November 30, 2024
Tax Relief: Waiver of interest and 50% reduction in penalties
Revenue Target: ₹5,200 crore
Amount Collected So Far: ₹250 crore through OTS; ₹175 crore through Self-Assessment Scheme (SAS)
Number of Taxpayers Settled: 1.10 lakh
Number of Outstanding Taxpayers: 2.70 lakh
BBMP has collected approximately ₹250 crore from the OTS scheme and an additional ₹175 crore from the Self-Assessment Scheme (SAS). So far, 1.10 lakh property owners have cleared their dues, while 2.70 lakh still have outstanding payments.

In the coming months, the BBMP plans to intensify efforts to collect overdue property taxes. This includes house-to-house visits to identify defaulters and issuing notices to properties that have not been assessed.