Visakhapatnam’s property tax collects over ₹510 crore
VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has set a record in property tax collections, exceeding ₹510 crore for the fiscal year 2025-26, a full eight days before the accounts close. This outstrips last year’s collection of ₹500 crore, with officials optimistic about reaching ₹600 crore by March 31, thanks to a 50% interest waiver on outstanding dues provided by the state government. Of an additional ₹80 crore in demand, ₹50 crore has already been collected this year. Deputy Commissioner (Revenue) S Srinivasa Rao mentioned that the waiver will lessen the burden on taxpayers and enhance collections. “We expect to…