Dear Sir, As per Section 212 of Hyderabad Municipal corporation Act , Vacant land tax (VLT)shall be levied at 1% of the capital value of land( Now it is reduced to 0.50%,I believe). How to arrive at Capital Value of Land in the given case. What I feel the Municipal Authorities are misinterpreting the Concept of Capital value of the Land and calculating the VLT on Registration value of the Land at CURRENT PRICES repeat CURRENT PRICES of Registration for Vacant lands Registered long back also. I seek feedback of the members.
Further, Is there any remission on Property tax, where the Commercial property is occupied by OWNER himself . I observe all other Metros, where the property is occupied by the Owner (not let out), there is concession of 30% to 50% on ARV ( Annual Rental value). Pl clarify the position in Hyderabad metro
