Commercial buildings in Thiruvananthapuram to be assessed under new tax regime
The commercial buildings in Thiruvananthapuram, which were constructed after April 2011, will have to be assessed under new tax regime. For buildings below 100sq.m, tax is assessed at a rate of Rs 80 per sq.m. If the building is above 100sq.m, an amount of Rs 110 per sq.m is charged and for buildings above 200sq.m, tax is assessed at Rs 150 per sq. m.
Under the old tax regime, commercial buildings were assessed as a whole which resulted in a huge amount as property tax. The revenue wing is now receiving applications to bifurcate commercial buildings within ranges of 100 sq.m – 200 sq.m so as to avail lesser tax.
The city corporation has sought a clarification from the state government on ways to deal with such applications.