Tag: Property tax in Belagavi

Latest StoriesRegulatory

Belagavi civic body raises ₹18 crore in 20 days’ tax collection

BELAGAVI: The Belagavi City Corporation (BMC) has seen a promising start in its property tax collections for the current financial year, amassing Rs 18.12 crore from April 1 to April 20, thanks to a 5% early payment rebate. This strong collection in just 20 days significantly enhances the corporation’s revenue base at the year’s outset. Officials anticipate that collections will accelerate through the end of April, as they typically spike in the final week of the month. The 5% rebate is available from April 1 to 30, encouraging taxpayers to settle their dues promptly. Civic officials have observed a noticeable…

Latest StoriesResidential

40% of Belagavi Property Owners Miss Tax Payments

BELAGAVI: A troubling trend is emerging in Belagavi city, where nearly 40% of property owners have not settled their property tax dues for the 2025-26 financial year, raising crucial concerns about both revenue recovery and administrative efficiency. According to insiders at the Belagavi City Corporation (BCC), the city has 166,178 registered properties. Out of these, property tax dues have only been cleared for 95,829 properties. This includes defaulters from various sectors, such as private residences, businesses, educational institutions, and even government establishments. Despite assertions of financial discipline and efforts to enhance revenue collection, BCC only gathered ₹70.8 crore in property…

Latest StoriesRegulatory

Belagavi Property Tax Growth Stalls Despite Building Boom

BELAGAVI: Despite the rapid expansion of Belagavi city, the collection of property taxes has not kept up, raising concerns about the financial management of the city corporation. As of March 31, there are 165,958 properties across 58 wards in the city, with an estimated addition of 10,000 to 15,000 new properties each year. However, this growth has not resulted in a corresponding increase in civic revenue. In the fiscal year 2025-26, the city corporation collected ₹70.8 crore in property tax, a slight increase from ₹69.5 crore in 2024-25, falling significantly short of the ₹89 crore target. Officials have indicated that…

Latest StoriesRegulatory

Belagavi: BCC’s Property Tax Hits ₹70.8 Crore, Still Short of Goal

BELAGAVI: The Belagavi City Corporation (BCC) collected ₹70.8 crore in property tax for the fiscal year 2025-26, marking a slight rise of ₹1.3 crore from the ₹69.5 crore collected in 2024-25. Despite this marginal increase, the civic body again fell short of its revenue target. The revenue department aimed for ₹78 crore this year, in addition to ₹11.4 crore from the previous year, resulting in a total target of ₹89.4 crore, which was not achieved. Officials, including City Corporation Commissioner Kartik M and Revenue Deputy Commissioner Sidhu Hulloli, made extensive efforts to boost collections. Multiple review meetings were conducted, specific…

Latest StoriesRegulatory

Belagavi Revises Property Tax Rates Effective April 1

BELAGAVI: The Belagavi City Corporation (BCC) has updated property tax rates effective April 1, aiming to generate an additional Rs 2-3 crore in annual revenue. The tax rate for residential properties will rise by 3%, while commercial and industrial properties, along with all types of real estate plots, will see an increase of 4%. Owners can benefit from a 5% discount if the total tax is paid by the end of April. According to BCC sources, there are currently over 1.5 lakh properties, including residential and commercial. Historically, these properties generated about Rs 75 to 80 crore annually in taxes,…

Latest StoriesRegulatory

Belagavi civic body records ₹44.7 crore in Q1 property tax

BELAGAVI: The Belagavi City Corporation (BCC) has set an ambitious goal of collecting Rs 75 crore in property tax for the financial year 2025-26. So far, the civic body has collected Rs 44.7 crore in the first quarter, aided by a 5% rebate scheme that ended on June 30. This figure represents the highest Q1 property tax collection in the BCC’s history, attributed to an effective awareness campaign about the rebate and diligent efforts to stop revenue losses. With Rs 44.7 crore already in hand, the BCC aims to raise the remaining Rs 30 crore in the upcoming quarters to…