February 29, 2024: The Telangana government has issued orders for the implementation of One Time Settlement scheme for clearance of property tax arrears in the urban local bodies (ULBs) across the state, including the Greater Hyderabad Municipal Corporation (GHMC), according to media reports. The move aims to provide relief to property taxpayers and encourage timely settlement of tax dues.
Under the OTS, the government has ordered a waiver of 90% on accumulated arrears interest on property tax, provided the taxpayers clear the principal amount of dues till the financial year 2022-2023 together with 10% of interest at one go. The waiver is applicable to private and government properties within the GHMC limits and other ULBs.
The One Time Scheme is also applicable to all taxpayers who have already cleared their property tax dues, including interest and penalties, up to March 2023, before the scheme was implemented. The waived amount in such cases will be adjusted against future tax payments, the orders stated.
Property taxpayers can pay their property tax online through the official portal of the local authority. For example, one can visit the official GHMC website https://www.ghmc.gov.in/Propertytax.aspx to pay property taxes online.
Click to read how to pay Hyderabad Property Tax online.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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