The Tamil Nadu government in month of May 2013 decided to set up a property tax board in order to enable an independent and transparent process to assess the property tax levied on land and buildings.
A bill on Property tax board was introduced in the assembly by Tamil Nadu Minister for Municipal Administration K.P. Munusamy that provides for the establishment of the board.
So, once the bill is 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.
Function the Property Tax Board will Perform
- It will access the performance grants of local bodies 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.