The Bruhat Bengaluru Mahanagara Palike (BBMP) is changing how it collects parking taxes in Bengaluru. They want to make it easier for people, especially homeowners. Instead of having different parking tax rates for different areas, they’ll now have one simple rate of ₹2 for every square foot of parking space. This means that if you have a parking space that’s 150 square feet, you’ll pay about ₹600 every month.
This new plan is fairer because everyone will pay the same rate for parking taxes, no matter where they live in the city. The BBMP believes this change will make things simpler for homeowners and help them plan their finances better. It’s important for homeowners to think about their parking space when they consider these changes.
For businesses, the parking tax will be different. They’ll pay a higher tax of 25% on their parking areas, which comes to about ₹1,125 a year. This makes sense because businesses use parking spaces differently than homes do.
Many property owners are talking about these changes. Some are worried about how it will affect their money. While the new tax system is easier to understand, some people might end up paying more or less depending on where they live and what type of property they own.
Homeowners should pay attention to any official tax letters they receive and check how these changes will affect their taxes. The BBMP wants to create a fairer and easier system for everyone in Bengaluru. This is a big change, and property owners need to stay informed to handle their taxes correctly.
