Property tax will increase by 100% to 150% for only 7% of assessees in urban areas of the State after the revision, said Municipal Administration Minister K.N. Nehru.
Speaking to mediapersons on Tuesday, he said Chennai had 11.03 lakh residential properties, and the increase in property tax would have a minimal impact on low income houses with an area of less than 600 square feet. “Property tax in the Greater Chennai Corporation will increase by 25% for 1.52 lakh houses, 50% for 3.46 lakh houses and 75% for 3.12 lakh houses,” he said.
Similarly, property tax in other urban areas of Tamil Nadu has been lesser than urban areas in other States of the country even after the guideline value has increased in the past few years in the urban areas of the State.
