Property Tax Growth Trends in India
Delhi, Rajasthan, and Tamil Nadu have emerged as leaders in property tax growth from FY19-FY24, recording annual increases of 26%, 23%, and 23% respectively. Property tax constitutes a significant portion of municipal corporation (MC) revenues, with Telangana MCs deriving 50% from this source. Factors like Tamil Nadu’s Global Capability Centres and Rajasthan’s tourism boost revenues, whereas West Bengal lagged with only 3% growth. Strategies like tax reforms, improved public infrastructure, and diversified revenue streams are essential for sustaining urban development. AMRUT 2.0 supports such initiatives by enhancing property tax collection efficiency.
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