Against the 100% hike in property tax proposed by municipal commissioner Guruprasad Mohapatra, the revised budget to be presented by the standing committee on Saturday is likely to propose a smaller increase in tax rates.
The standing committee of the Ahmedabad Municipal Corporation (AMC) will present its revised budget, which is likely to reduce the proposed hike.
While the commissioner proposed 100% hike in property rates, it is likely that the standing committee may not approve it. “There are high chances that the revised budget will approve around 60% hike in base price of residential properties and 27% hike in base price of commercial properties,” said an AMC official.
According to sources in AMC, the panel is likely to consider Rs16 as base rate for residential units, against the Rs20 proposed by the municipal commissioner. Similarly, for commercial units, the base rate is likely to be fixed as Rs28, whereas Mohapatra had proposed Rs32.
Also, the revised budget is likely to include an addition of Rs300 crore to the existing budget of Rs4425 crore, making it a total of Rs4, 725 crore.