Corporation to review unassessed buildings

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In a major revenue-raising exercise, the city corporation has started an inspection and assessment of the unassessed buildings in the Willington Island. Around Rs30 crore of additional money is expected to flow into the corporation coffers when it completes the inspection of over 3,500 door numbers there.

The cash-strapped civic body has started inspecting the Cochin Port Trust-owned buildings in the Island two weeks ago. Officials of the port authority and the corporation revenue department are jointly conducting the assessment.

“We’ve completed inspection of more than 1,000 door numbers. The inspection started from the Island’s north end and we hope to finish it within 30 to 40 days. Three revenue inspectors from Mattancherry, Palluruthy and Fort Kochi zonal offices, bill clerks and officials of the port trust are assessing the buildings,” said a revenue official.

For the past several years, the corporation was not getting tax from these buildings. The Port Trust was giving only a nominal 30 per cent service tax. As most of the buildings in the area have been rented out, leased or licensed by the Port Trust, they were not paying building tax to the corporation. The buildings had been exempted from remitting tax as per an earlier agreement between the Port Trust and the city corporation.

“The buildings in the area, including major hotels, offices and other commercial establishments, are either owned or leased and licensed by the Port Trust. With the revised tax structure, all the buildings except those directly owned by the Port Trust need to pay the actual amount of building tax based on the floor area,” added the official.