Shillong, Nov 21: T Lyngwa, CEO, SMB said that the revision of property tax was needed to streamline and restructure the board.
This is meant to overcome its poor financial condition of the board. However, this revision is expected to complete by next year.
The Chief Executive Officer of the Shillong Municipal Board T Lyngwa today said the Board is still in the process of revamping the tax structure and it will be completed by next year.
Lyngwa said, “We are still in the process, so many layers it has to pass through before it is taken up in the cabinet.”
The property tax was last revised in 2007 and as per rules the board is supposed to revise it in every five years.
The Shillong Municipal Board earns its revenue from parking lots, markets, shops and other fees. Lyngwa defended the move of the Board to streamline the tax structure which he felt is being done according to the needs and situation of the present time.
The proposed tax structure can either be reduced or increased to suit the needs of the Board.However, this have to get the nod of the Cabinet before it is implemented in Meghalaya.
The Shillong Municipal Board (SMB), which is witnessing strike by its employees, is trying to improve its financial position as the board is undertaking exercise to streamline its property tax collection. (SP News)
