What’s inside:
Patna is increasing property tax on non-residential properties, affecting hotels, gyms, hospitals, and educational institutions.
Patna is set to change its property tax rules, especially for non-residential properties. The Patna Municipal Corporation announced this update recently to make the tax system easier and fairer while increasing revenue for the city.
Starting now, property tax will be doubled for establishments like hotels, gyms, health clubs, banks, and private hospitals. Additionally, coaching institutes and nursing homes will see a 1.5 times increase in their property tax rates.
The new tax rules mean that places with more commercial activities, like shopping malls and restaurants, will also face higher taxes. For these businesses, the tax coefficient will be 1.5, meaning they will pay more compared to before.
Interestingly, non-commercial government offices will keep a tax coefficient of 1. For religious and cultural organizations, they will remain entirely exempt from property tax.
This change is expected to boost the city’s revenue and help improve infrastructure facilities. The new tax rates will soon be in effect, impacting how businesses manage their finances in Patna.
Summary:
- Patna is raising property tax for non-residential properties.
- Hotels, gyms, and hospitals will see double the tax rate.
- Coaching institutes and nursing homes will face a 1.5 times increase.
- Shopping malls and restaurants will also have higher taxes.
- Religious institutions are exempt from property tax.
