COVID-19: Chennai Corpn cuts property tax penalty to 0.5%

Owing to the coronavirus pandemic, The Greater Chennai Corporation (GCC) has lowered the penalty on late payment of property tax to 0.5 per cent from the present 2 per cent. The civic agency also asked the property owners to clear the outstanding by March 31, 2021.

The arrears can be paid on 0.5 per cent interest. For the property owners who have already paid the outstanding amount with 2 per cent interest per annum, the amount would be calculated at 0.5 per cent interest and the surplus would be offset for the next half-year.

"Therefore, the property owners who have not yet paid the property tax/arrears are requested to pay 0.5 per cent interest per annum on the amount due by March 31, 2021 and avail of this opportunity to pay the outstanding amount, GCC commissioner G Prakash said on Friday.

See Zee Business Live TV Streaming Below:

Those failing to pay the arrears during the grace period would have to settle the amount at 2 per cent interest from April 1, 2021, the Commissioner said.