East Delhi civic body rejects plan to hike property tax
The standing committee of East Delhi Municipal Corporation approved the rollback of the hike proposed in the property tax. The third Municipal Valuation Committee (MVC), last year, recommended the hike in property tax which was adopted by the corporation to improve its financial health.
According to MVC recommendations, the rate of property taxes were set to go up to 16 times higher in certain categories like industrial and commercial properties. It led to protests by traders who pushed for a rollback.
Giving in to the protests, EDMC decided to roll back the proposed hike last year. The approval of the standing committee, the highest decision making body on financial issues, made the roll-back final on Thursday.
The finalisation of the rollback was pending for a long time as there was a delay in the formation of standing committee for which the BJP ruled EDMC blamed the Delhi government. Parvesh Sharma, standing committee chairman, said that the rollback was a big relief for property owners in east Delhi.