Karnataka govt revises range of property tax

Bengaluru: The Karnataka government revised the property tax rate on Tuesday.

In a notification, the government informed of amendments brought in the Karnataka Municipal Corporations Act and the Karnataka Municipalities Act to this effect.

The property tax range has been changed to between 0.2 per cent and 1.5 per cent of a property’s capital value. The previous range was between 0.3 per cent and 1 per cent.

The new tax range is applicable for residential, and non-commercial properties along with vacant spaces of more than 1,000 square feet abutting a building.