August 9, 2024: In response to public requests, the Karnataka government has extended the deadline for availing of the One-Time Settlement (OTS) scheme for property tax arrears in Bangalore until September 30. The extension was announced by deputy chief minister and Bangalore development minister D K Shivakumar on August 8. Earlier, the scheme was extended till July 31 and later till August 31 after demands from taxpayers and BBMP officials due to technical glitches.
The OTS scheme aims to benefit property taxpayers in the BBMP area by providing them with a complete interest waiver on outstanding dues. Further, penalties on overdue amounts have been halved, Shivakumar said.
For residential and mixed-use properties, the recovery of property tax arrears will be limited to five years for revisions and unassessed properties, giving significant relief to property owners, the deputy CM said. According to BBMP officials, around 3 lakh tax defaulters are expected to benefit from the extension.
Through this initiative, nearly 2.74 lakh property tax defaulters in the city limits can avail of the benefit under the scheme. According to the BBMP, only around 80,000 out of 4,00,000 property tax defaulters have availed themselves of the OTS scheme. Recently, the BBMP launched a helpline to assist property taxpayers with the OTS scheme.
Click to read how to avail of the BBMP OTS scheme.
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