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Karnataka Property Tax Slashed! Check Which Properties and Other Benefits Offered by Govt

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The Karnataka government has lowered property taxes for hotels, restaurants, and resorts by 50% for FY22 in order to recover the tourism sector damaged by the COVID-19 pandemic.

 

For the current fiscal year, the Karnataka government decided on June 25 to reduce the property tax.

Karnataka Property Tax Slashed! Check Which Properties Are Eligible

According to a government announcement, the property tax on hotels, resorts, restaurants, and entertainment parks would be 50% for the current fiscal year.

It further stated that fixed rates on electricity bills for the months of April, May, and June will be eliminated for them.

According to the announcement, the government has also granted a concession on excise license and other taxes, allowing only half of the fees to be paid now, with the remaining fees to be paid by December 31.

Aside from that, tourist guides who register with the tourism department would receive financial aid of Rs 5,000. The funds will be deposited directly into their bank accounts.

Read more about: tax property tax
Story first published: Friday, June 25, 2021, 21:19 [IST]
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