Ghaziabad: Ghaziabad Municipal Corporation has launched a one-time settlement scheme for over 60,000 property tax defaulters, waiving penalty charges of 12% per annum if dues are paid in full.The scheme is valid until Dec 15, though defaulters must declare their intent to pay by Nov 14. Officials estimate around Rs 120 crore in penalties will be written off.“As per the scheme, defaulters who have not paid property tax till April 1, 2026, penalty amount which is charged at the rate of 12% annum will be written off if dues are paid in full. As per rough estimates, Rs 120 cr between 60,000 tax defaulters will be written off,” said a GMC official.Property tax, which comprises house, water and sewer taxes, is levied on all establishments within the jurisdiction of the city, which are roughly 5 lakh in number. The rates for commercial properties, however, vary with respect to residential rates, which are five times.The width of the road a property is located on determines how much property tax the owner has to pay for it. Properties located on roads wider than 24 metres or more have to pay tax at Rs 3.40 per sq foot. Properties on roads of width 12 to 24 metres have to pay tax at Rs 2.81 per sq foot while those on stretches less than 12 metres have to pay tax at a rate of Rs 2.28 per sq foot.Separately, a state govt proposal is being worked out to slash property tax rates for small and medium enterprises and bring these on a par with residential rates. SME rates currently stand at three times the residential rate.As of now, SME tax rates are three times the residential rates.GMC in 2024-25 managed to raise Rs 609 crore in revenue, of which property tax alone accounted for Rs 340 crore.
