Pune
News: The Pune Cantonment Board (PCB)
has hiked the residential and
commercial property taxes of all
houses and establishments in Pune
Camp. PCB chief executive
officer (CEO) S.K. Sardana told TOI
that the measure would help to
increase
the
board’s revenue by 10-12 percent
during the fiscal year 2006-07 .
Property tax rates in Pune cantonment
were last revised in 2003.
According
to the new rates, domestic property
tax will go up by 10 per cent and
commercial establishments tax by 20
per cent. This will affect more than
15,000 households and around 8,000
commercial establishments.
The revision, termed as the final
assessment revision, will be
operational for the three-year period
starting from April 1, 2005 and lasts
till March 31, 2008.
During 2005-06, the PCB had
accumulated property tax revenue to
the tune of Rs 4.80 crore. The board
is hoping for a Rs 30 lakh increase in
2006-07 , Sardana said.
