Property taxes revised

Property taxes revised

Mangalore Today News Network

Mangalore, Jan 27: The Mangalore City Corporation (MCC) has revised the property taxes under the self-assessment scheme (SAS) for the third time. During the corporation meeting held on Monday, the latest rates were approved. 

The new rates will come into effect only after the government gives its approval. 

As per the new rates, residential buildings will be taxed 0.5 percent and commercial buildings will be taxed 1.5 percent of the value, respectively. The present rates stand at 0.6 percent and 2 percent, respectively.