TPA opposes the imposition of property tax on the value of capital

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At a press conference here Thursday, TPA Chairman V. Sambireddy and Secretary MV Anajaneyulu said the state government would consider leading the Center on tax matters.

The Taxpayers Association (TPA) called on the state government not to levy property tax based on the capital value of the property as introduced by the central government as this would become a huge burden for taxpayers.

At a press conference here on Thursday, TPA Chairman V. Sambireddy and Secretary MV Anajaneyulu said the state government was considering leading the Center on taxation. In addition, a call not to do so was addressed to the Minister of Municipal Administration and Urban Development Botcha Satyanarayana.

They said the Center urged the state government to impose a tax at the floor rate. This means that local organizations must follow suit.

Mr Anajaneyulu said property tax is levied based on the rental value of a property and that with the new method of taxation, property tax based on property value will increase significantly, thus charging the common man.

In addition, the tax will increase whenever the registry service reviews the value of land and property across the state, he said.


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