The Deputy Chief Minister of Bengaluru, DK Shivakumar, announced a one-month extension for the One-Time Settlement (OTS) of the BBMP property tax, providing relief to approximately 2.74 lakh defaulters. The scheme, initially launched in February and set to expire on July 31, waived compounding interest and reduced penalty amounts by half.
Since its inception, 1.07 lakh defaulters have cleared arrears amounting to Rs 217 crore, with an expected additional revenue of Rs 516 crore from the pending defaulters. The OTS scheme aimed to assist property owners struggling with years of unpaid taxes by offering a reprieve from substantial interest and penalties.
Despite a rush of defaulters on the final day, facing server issues and payment difficulties, the government’s decision to extend the deadline will provide more time for residents to take advantage of the scheme. The BBMP is set to release a notification within the next few days, signaling the official extension.
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