Salem Municipal Corp. offers Property Tax Incentive

03 Oct 2023 CW Team

Salem Municipal Corporation (SMC) is encouraging property taxpayers with a new incentive. SMC Commissioner S Balachander has announced that individuals who pay their property taxes on or before October 31 will be eligible for a discount of either Rs 5,000 or 5% off their tax bill, depending on which amount is greater.

This means that if a property owner's tax liability exceeds Rs 0.1 million, they will receive a flat Rs 5,000 deduction from their tax amount. On the other hand, if their property tax is less than Rs 0.1 million, they will enjoy a 5% discount on the total tax bill.

The move is part of SMC's efforts to streamline property tax collection for the second half of the 2023-24 fiscal year. The state government has recently announced this attractive incentive, hoping to motivate taxpayers to settle their dues promptly. This approach not only benefits the municipality by improving tax collection efficiency but also provides property owners with a financial advantage when they fulfil their tax obligations in a timely manner. So, Salem residents have a valuable opportunity to reduce their property tax burden by taking advantage of this offer before the October 31 deadline.

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