Greater Visakhapatnam Municipal Corporation Encourages Timely Property Tax Payments with 5% Early Bird Discount Scheme
In an effort to promote timely property tax payments and alleviate the financial burden on taxpayers, the Greater Visakhapatnam Municipal Corporation (GVMC) has introduced a rebate scheme for the financial year 2024-2025 (FY25). This scheme offers a substantial five per cent discount to property owners who settle their tax dues in full by April 30, 2024.
The initiative, aptly named the "Early Bird Discount," aims to incentivize prompt payments and streamline the revenue collection process for the GVMC. By offering this discount, the corporation hopes to encourage property owners to fulfill their tax obligations in a timely manner, thus contributing to the city's development initiatives.
To facilitate convenient and hassle-free tax payments, the GVMC has implemented various measures. Firstly, the operational hours of its convenience centers located at the headquarters and zonal offices have been extended. These centers will now remain open from 9:00 AM to 8:00 PM, including Sundays and public holidays, throughout the tax payment period. This extension provides property owners with ample time to visit these centers and settle their tax liabilities at their convenience.
Moreover, the GVMC has diversified its payment channels to cater to the diverse preferences of taxpayers. Online payment options are available through the GVMC website (gvmc.gov.in), where property owners can make payments using the Bharat QR code for swift and contactless transactions. Additionally, for those who prefer traditional payment methods, offline options such as cash, Demand Drafts (DDs), and debit card payments are accepted at the GVMC Convenience Centre and designated bank branches.
The success of previous iterations of the property tax rebate scheme underscores its effectiveness in revenue collection. Revenue Department officials report that nearly half of the property taxes are collected through this scheme annually. Building on this success, the GVMC expects the current scheme to yield similar positive outcomes, fostering timely payments and bolstering the corporation's revenue stream.
In light of these developments, the GVMC urges all property owners within its jurisdiction to take advantage of this beneficial scheme. By availing themselves of the five per cent early bird discount and settling their property tax dues before April 30, 2024, taxpayers not only stand to save on their tax liabilities but also play a pivotal role in contributing to the city's progress and development through timely revenue collection.
GVMC's rebate scheme exemplifies its commitment to promoting taxpayer compliance and enhancing revenue collection efficiency. Through proactive measures and incentives like the early bird discount, the corporation endeavors to foster a culture of responsible tax payment and civic engagement, ultimately paving the way for a brighter and more prosperous future for Visakhapatnam.
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