The city civic body will announce its budget for 2023-24 on Tuesday. According to sources, the civic body which is reeling from a financial crunch is likely to announce an increase in property taxes.
Sources said for the last decade while theĀ Ahmedabad Municipal CorporationĀ (AMC) did not increase property tax rates outright, when it linked the tax toĀ jantri rates, effective rates paid had risen.
Sources said as the AMC has suffered financially because of the lockdown and doesn’t even have money to fund its day-to-day operations, the civic body may announce an increase in property tax rates.
In August 2022, officials of the civic body’s political and executive wings accepted that the civic body is in financial stress and to continue operations the AMC borrowed Rs 350 crore from the state government.
