AP Not To Increase Residential Property Tax

There is good new for owners of residential property in Hyderabad and other areas coming under the urban local bodies in the State. The Andhra Pradesh Government has decided not to hike the tax rate for residential properties. The decision comes in the wake of months of speculation that the Government was planning to hike the tax rates for residential and commercial properties in view of the boom in the sector. The then Telugu Desam Government had hiked taxes, but put a cap (ceiling) of 75 per cent, 100 per cent and 150 per cent on residential & commercial properties respectively.