Newsdetail

Ghaziabad Hike in property tax by 10 percent

By Rishabh Chamoli | 2023-01-11

In a meeting held on January 7, 2023, the Ghaziabad Municipal Corporation (GMC) has passed a proposal to hike property tax in the city. The tax rates would be hiked by 10 percent. The effective date for new property tax rates in Ghaziabad is set as April 1, 2023.

In a move that will affect 4.28 property owners, the Ghaziabad Municipal Corporation (GMC) has increased property tax in Ghaziabad. This decision was taken in the 30th board meeting of the civic body held on January 7, 2023. Property tax rates in Ghaziabad are amongst the lowest in Uttar Pradesh. The Municipal Corporation collects this tax to fund administrative and civic infrastructure expenses.

What will be the hike in property tax in Ghaziabad?
The property tax in the city will be increased by 10 percent. The concerned official had submitted a proposal to increase the rate to be related to the circle rate. However, post deliberations in the meeting, a 10 percent hike was agreed upon.

What will be the impact of the property tax hike in Ghaziabad?
The tax hike will lead to a general cost increase in property ownership in the city. Property tax is levied on over four lakh properties in Ghaziabad, which will feel the hikes impact. However, the civic body will be able to garner an additional budget of over Rs 16 crore every year, which will help it fund various development works.

The new tax rate would be effective from the new financial year, starting April 1, 2023. However, even after the hike, property tax rates in Ghaziabad are expected to be the lowest in the region.