OTS SCHEME FOR PROPERTY TAX DEFAULTERS
The one-time settlement (OTS) scheme for property tax defaulters has been extended until November 30, 2024 by Karnataka government. This means that property owners who have outstanding property tax dues can now avail themselves of this opportunity to settle their liabilities with reduced penalties and interest.
Key benefits of the OTS scheme:
- Reduced penalties: Defaulters can benefit from a significant reduction in penalties on their outstanding dues.
- Waived interest: In some cases, interest on the overdue amount might also be waived.
- Flexible payment options: The scheme may offer flexible payment options, such as installments, to make it easier for defaulters to settle their dues.
To take advantage of the OTS scheme, property owners can:
- Visit the local municipal office: Contact the relevant municipal office in state to inquire about the specific terms and conditions of the scheme.
- Submit necessary documents: Provide the required documents, such as property tax assessment details and proof of identity.
- Make the payment: Settle the outstanding dues as per the prescribed schedule and payment options.
This is the second time the govt has extended the scheme. Property taxpayers can now clear their dues under the scheme till Nov 30. The govt had introduced OTS in Feb this year, and the scheme expired on July 31. Later, the govt extended it till Sept 30.
The scheme helps defaulters get a 100% rebate on interest and 50% rebate on penalties. According to BBMP data, there are over 2.6 lakh defaulters in the city with dues amounting to more than Rs 474 crore. BBMP collected Rs 273 crore in arrears from 1.3 lakh properties until Sept 1 this financial year. The Palike attached 49,487 properties and sealed 4,586 non-residential ones until Sept 1.
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