Mysuru City Corporation (MCC) has increased the property tax rates by a minimum of 3% from the financial year 2025-26.
A statement from the MCC Commissioner Shaikh Tanveer Asif stated that the revised property tax rates will come into force from April 1. Directions had been issued to update the revised property tax rates in the property tax calculator by end of March 2025.
The revision in tax rates is as per the Karnataka Municipal Corporations (Amendment) Act 2021, which provides for increasing property tax by 3% to 5% of the guidance value.
5% rebate
The statement from the Commissioner also noted that the property tax payers, who pay the tax in the first month of the financial year, that is, in April 2025, will be entitled to a rebate of 5%.
During the recently presented MCC budget, the property tax target has been set at ₹252.60 crore for 2025-26.
During the previous year in 2024-25, the property tax was projected at ₹204.80 crore, and the MCC had collected ₹211.59 crore by the end of December 2024. Property tax is considered to be an important source of revenue for the civic body.
Published – March 29, 2025 08:26 pm IST
