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Condemning the decision of Bruhat Bangalore Mahanagara Palike (BBMP) to introduce the Capital Value-based System (CVS) of property tax in the city from April 2008, two former Congress Mayors on Thursday demanded that the existing system of calculating tax based on the annual rental value under the Self-assessment Scheme (SAS) be ...

Property owners in Bangalore City will have to switch over to the new method of property tax assessment — Capital Value based assessment System (CVS) — from the next financial year (from April 1, 2008) instead of the existing Annual Rentable Value (ARV) based assessment. However, those who have put up new structures, renovated or ...

Tax rate for vacant sites will double; for individual residences it will rise marginally.  The new system is applicable for all new and un-assessed properties with immediate effect.Unlike in other parts of State, CVS implementation was delayed in Bangalore.With the Bruhat Bangalore Mahanagara Palike (BBMP) all set to introduce the Capital ...

New properties and unassessed buildings will come under the new property tax regime — Capital Value System (CVS). However, existing tax-payers will continue under the old Self-Assessment Scheme (SAS). The BBMP has now opened up its second half-yearly tax collections — from October 1 to November-end. The BBMP, dilly-dallying over CVS ...