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Budget 2017 has no change in property tax rate
Posted on: 23/Mar/2017 12:29:19 PM
The budget for 2017-18 has not got any change in terms of property tax rates. The Chennai Corporation Special Officer had passed the budget. The budget also does not carry any amendments regarding new announcement about infrastructure development or welfare projects. It is to be noted that no change in tax rates is implemented since 1998.
The budget was passed on 14th March, said a senior official. Due to the model code of conduct, there is no information about welfare measures mentioned in the budget.
More expenditure will be made towards storm water drains in 2017-18, the budget estimate reads.
Various funding agencies including the World Bank have contributed loan of Rs 2000 crore to the Chennai Corporation. Loan interest payment is also likely to increase.
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