The Greater Hyderabad Municipal Corporation (GHMC) is celebrating a record-breaking year for property tax collection. They surpassed their targets and even the previous year’s revenue thanks to a successful one-time settlement scheme (OTS).
Taxpayers Reap Benefits, GHMC Sees Surge
The OTS scheme offered a significant 90% waiver on penalties, encouraging a wave of payments and a 15.5% jump in revenue compared to the prior year.
Prudent Planning for City Development
Despite exceeding expectations, the collected Rs. 1917 crores falls within the well-planned budget of Rs. 1810 crores for the fiscal year 2023-2024, demonstrating a commitment to responsible financial management for the city’s development.
Positive Growth Trajectory
This year’s success builds on an already positive trend. The previous year (2022-2023) witnessed a substantial increase in property tax collection, reaching Rs. 1660 crores.
Teamwork Makes the Dream Work
GHMC’s triumph is a testament to effective collaboration between various departments. Bill collectors, tax inspectors, supervisory officials, and central office staff all played crucial roles in streamlining processes and achieving targets.
Efficiency is Key
Streamlined administrative procedures made settling dues easier, attracting both government and private sector contributions. This collaboration between various levels of the organization, from tax collectors to zonal commissioners, proved instrumental.
The focus now, as emphasized by the GHMC commissioner, is on maintaining this momentum. The collaborative spirit across departments highlights their dedication to efficient governance and responsible fiscal management.
