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Local laws Karnataka Ministry of Urban Development Karnataka Municipal Corporations Act, 1976

Extension and Revision of One-Time Settlement (OTS) Scheme for Property Tax in Greater Bangalore

10-Sep-2024 | No. 440

The Government of Karnataka has issued an extension of the One-Time Settlement (OTS) scheme for property tax under the jurisdiction of the Greater Bangalore Municipal Corporation (BBMP) until 30th November, 2024. This scheme addresses issues of incorrect property tax declarations and financial distress caused by high arrears, penalties, and interest. By virtue of the notification, the extended OTS scheme allows property owners who have declared their property tax under the self-declaration system to automatically revise their tax upwards if needed. Any revisions during the OTS period will incur a fine of ?100 per annum for non-assessors and sustainers, but interest charges will be waived. Additionally, if higher penalties have been paid since the OTS scheme began, the difference will either be refunded or adjusted against future property tax payments. Please refer to the attached document for more details.

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