Aproperty tax board is to be set up to enable an independent and transparent process to assess the property tax levied on land and buildings.
Tamil Nadu Minister for Municipal Administration K.P. Munusamy introduced a Bill in the Assembly that provides for the establishment of the board.
Once enacted, the Tamil Nadu State Property Tax Board Act, 2013, will provide for creation of the board in line with the recommendations of the 13th Finance Commission.
The board is essential for local bodies to access the performance grants recommended by the Finance Commission.
Every property under each municipality and municipal corporation will be enumerated and the property tax board will assist the urban local bodies formulate systems and procedures for assessing and regularly revising the property tax.