VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) received 9,297 objections and suggestions in response to the notification issued to revise the property tax structure. The GVMC issued the notification on June 4 and gave the public 30 days to submit their objections and suggestions.
The new tax regime will be applicable from April 2021. The GVMC has proposed a property tax of 0.15% on the market value of the residential buildings, 0.3% on non-residential/commercial buildings, and 0.5% on the vacant lands. Opposition parties, residential welfare associations and other organisations are opposing the proposed hike.
