Property tax hike evokes strong opposition in UT

Residents, traders and MP Manish Tewari join chorus against the steep jump in property tax, a first since 2015

- HT Correspondent

CHANDIGARH: Just a day after the UT administration approved a three-fold hike in property tax on residential properties and doubled the tax on commercial properties as the new financial year kicks, city residents, traders, resident bodies, and Congress member of Parliament Manish Tewari, on Tuesday, expressed strong opposition to the move.

Property tax, initially introduced in 2004 at 3% of the annual rateable value (ARV) for commercial, industrial and institutional buildings, was extended to residential properties in 2015. Ever since, despite nearly a decade of inflation and the civic body's growing financial strain, the rates remained unchanged—until now.

According to the administration's latest notification, residential property tax will now be charged at 9% of ARV—three times the previous rate, while commercial and industrial property tax will rise to 6% of ARV—double the earlier rate. However, the administration has exempted government-owned properties from the hike, sparking criticism.

Tewari took to social media to offer a political condemnation of the move.