CHENNAI Corporation tax revenue hits a new high

Pic courtesy: http://chennaidailyfoto.files.wordpress.com/2010/01/image00152.jpg

BY G Saravanan

Published in The New Indian Express, Chennai, on June 24, 2010:

CHENNAI: An extra step taken by the Chennai Corporation to increase its tax revenue seems to be working as building owners who rented out their terrace for cellphone towers in the city started paying the additional property tax.

Responding positively to the civic body's notice for additional property tax for buildings with cellphone towers, more than 700 building owners have paid over Rs 1 crore.

According to sources, the civic body's revenue department has identified around 3,000 buildings with cellphone towers in its limits and sent notices to all the building owners seeking an additional property tax effect from April 2010.

It may be noted that the civic body has not revised its property tax slabs for more than five years and the new initiatives are only increasing its tax over these years. With the new initiative, the city Corporation could earn additional revenue of Rs 9 crore annually as each cellphone tower in the city will be charged Rs 30,000 as an annual tax, which can be paid in two halfyearly terms.

Revenue Department sources in the Corporation said that about 2,000 (cellphone tower) building owners were served with reminder notices on property tax in the last few days.

The Revenue Department expects a collection of another Rs 3 crores as property tax from cellphone towers sector. For the first time in the history of Chennai Corporation, total collection of its property as well as professional tax revenue during the period of 200910 has reached the Rs 490crore mark.