Kolkata, Oct. 4 -- Ahead of Durga Puja, the Kolkata Municipal Corporation (KMC) has announced a fresh waiver scheme to encourage citizens to clear long-pending property tax dues by offering substantial relief on accumulated interest and penalties.
Under the 'Incentive Waiver of Interest and Penalty to the Property Tax Payers Scheme, 2026', the concession will remain available for six months from the date of notification. The state government may extend the scheme by a further two months in the public interest.
Residential properties and properties belonging to the state and Central governments and their agencies will receive a 100 per cent waiver on both interest and penalty, provided the outstanding principal tax is paid.
For properties used exclusively for commercial purposes, the scheme offers a 70 per cent waiver on interest and 99 per cent on penalty. For mixed-use properties, the concession will be 80 per cent on interest and 99 per cent on penalty.
The civic body is also expected to allow payment of outstanding dues in instalments under specified conditions, besides one-time settlement, making it easier for taxpayers facing difficulty in paying large amounts at once. However, taxpayers seeking the waiver will have to withdraw any pending dispute or proceeding concerning annual valuation or property tax before the civic body or any other legal forum.
The KMC has introduced similar schemes in the past, helping recover substantial arrears. The latest initiative comes after such concessions were halted during the election period because of the Model Code of Conduct.
Published by HT Digital Content Services with permission from Millennium Post.