Hyderabad: Secunderabad Cantonment Board (SCB) has announced a one-time settlement (OTS) scheme for property tax arrears. The scheme is designed to provide relief to property owners by offering concessions on the accumulated interest component of outstanding property tax dues. The initiative covers arrears accumulated up to March 31 and is proposed in accordance with the provisions of the Cantonments Act, 2006.Under the proposed OTS scheme, property owners would be eligible for a 30% rebate on the accumulated interest amount or 10,000, whichever is higher. In situations where the accumulated interest is less than 10,000, the scheme provides for a full waiver of the entire interest amount. However, the rebate applies strictly to the interest component of the arrears and does not cover the principal property tax dues.The scheme stipulates that property owners must clear the entire outstanding property tax dues, including arrears, in full in order to qualify for the rebate on accumulated interest. Partial payments or payments limited to the interest portion would not be eligible for the concession. The OTS scheme would remain in effect until March 31, providing a defined time-frame for taxpayers to avail themselves of the benefits.SCB chief executive officer (CEO) Arvind Dwivedi stated that the scheme has been proposed to encourage voluntary settlement of pending property tax liabilities, reduce long-standing arrears, and provide an opportunity for property owners to regularise their tax accounts. The board also indicated that clearing dues within the scheme period would help property owners avoid further accumulation of interest and potential recovery proceedings.The Cantonment Board has requested property owners with pending property tax dues to make use of the scheme within the stipulated period.
