Telangana Offers One Time Clearance of Property Tax
In a major relief for property tax payers, the State government announced a One Time Scheme (OTS) that allows waiver of 90 per cent of accummulated arrears of the interest component on property tax if it is cleared in one go. The scheme will be taken up in all the 142 Urban Local Bodies (ULBs) including Greater Hyderabad Municipal Corporation (GHMC) and will be effective from August 1 to September 15.
Under the OTS, property tax payers should clear the principle amount of property tax dues till 2019-20 along with 10 per cent interest against accumulated arrears in one go. Thus, they can avail waiver of 90 per cent of accumulated arrears of interest component in property tax dues till date.