Bengaluru: Bengaluru’s five city corporations collected Rs 2,932.94 crore in property tax in the first two months of the current financial year, accounting for 43.53% of the annual revenue target.
The early surge in collections was driven largely by the 5% rebate offered in April and May, a period when property tax payments are typically highest.
However, the collection during April-May this year was only 1.2% higher compared to the same period last year, according to official data.
The corporations also managed to recover dues from nearly 1.6 lakh defaulters, who together paid Rs 167.17 crore in pending property tax. Despite this, 3.6 lakh defaulters still owe Rs 609.32 crore, officials said.