Vadodara, Feb 4 (PTI) The Vadodara Municipal Corporation(VMC) has approved the Rs 1,518-crore civic budget for 2011-12with some modification in taxes for commercial units here.
It has approved 40 per cent to 266 per cent hike inproperty taxes for various categories of commercial unitswhile 25 per cent hike, suggested in water charges forcommercial units, has also been approved.
While presenting the draft budget for 2011-12 to StandingCommittee on January 31, Municipal Commissioner Manoj KumarDas had proposed uniform 120 per cent hike in property tax and25 per cent hike in water charges used for commercial units.
The proposed 120 per cent hike in property tax was toyield Rs 35 crores, and hike in water charges was to generateadditional income of Rs 2 crores.
With modification in taxes, the hike in property tax forvarious categories would yield Rs 14 .83 crores, saidShabdasharan Brambhatt, Chairman of the Standing Committee.
Talking to the newsmen here, Brambhtt said there is noproposal for increase in residential property tax givingrelief to the citizens in difficult times.
The total size of the budget is Rs 1,518 crore, and theStanding Committee has approved new taxes and chargestotalling Rs 16.83 crore in this fiscal year, he said.
During this fiscal, Das said 20 developmental worksat a total cost of Rs 1049.69 cr will be undertaken whichincludes construction of two flyovers at Amit circle andNatubhai circle, bridge widening near Urmi school andMangleshwar, housing for urban poor, new swimming pool inKarelibaug and other facilities.