Assessing Land-Based Tax Systems in Municipal Acts in India (2020)
July 2020
The 74th Amendment to the Constitution of India, 1992 has many functions for the urban local governments under the Twelfth Schedule of the Constitution. In order to fund and sustain these services, urban local governments depend on inter-governmental transfers and own sources of revenues. Land-based taxes such as property tax, vacant land tax and development charges are a significant source of own revenue of ULBs. This research focuses on reviewing Municipal Acts across various states in India to identify provisions for land-based taxes. It also scrutinizes 'Ready Reckoner Rates' or 'Circle Rates' and their correlation with property taxes.
