Improvement in tax collection
The city Corporation has achieved a surge in tax collection in the 2018-19 financial year compared to the previous year, resulting in an 18% increase in its total revenues. The own fund collection, which was ₹80.03 crore in 2015-16 had touched ₹100 crore for the first time last year, with a total revenue of ₹102.55 crore. This year the revenue has further increased to ₹125.04 crore, making it the best record yet for the local body.
The professional tax collection increased by 22.4% from ₹40.68 crore last year to ₹52.42 crore in 2018-19. According to officials of the local body, the Corporation has in the past year taken several measures to increase professional tax collection. Firms in several sectors, including several companies in Technopark, have not been paying the taxes for many years. Demand notices were issued and reminders sent to make them pay up.
The property tax increased by 15.5% from ₹54 crore last year to ₹64 crore in 2018-19. The Corporation had issued demand notices to several government buildings for which taxes have not been paid for the past many years. However, there are chances of a slight fall in this number next year as the Local Self Government department recently decided to make the revision of property tax retrospectively effective only from the year 2016 onwards, instead of the existing 2013. Since many have already remitted higher taxes as per the earlier order, the amount will have to be adjusted in the taxes for the subsequent years.
Fee for adverts
The biggest percentage-wise jump of 41.2% was in the advertisement licence fee, from ₹1.24 crore to ₹2.12 crore this year. The Dangerous and Offensive Trade license (D&O) fee increased by 34.7% from ₹1.32 crore to ₹2.02 crore. But rent collection from the buildings owned by the Corporation fell by 17.7% from ₹5.18 crore to ₹4.40 crore.