Section 198 in The Orissa Municipal Corporation Act, 2003
198. Property Tax on lands and buildings.
(1)For the purposes of this Act, a property tax determined under this chapter on the annual value of any land or building in the Corporation area, including any land or building belonging to the State Government, or the Corporation, or any undertaking or public sector corporation under the control of the State Government or the Corporation, but excluding any land or building specifically exempted under this Act, shall be levied by the Corporation.(2)The rate of such property tax shall be -(a)where the annual value does not exceed one lakh rupees, upto fifteen per cent of the annual value,(b)where the annual value exceeds one lakh rupees, up to ten per cent of the annual value, as may be prescribed.(3)The amount of property tax determined under this chapter shall be linked to the consumer price index of urban non manual workers for a year in which a general valuation of all lands and buildings within the Corporation area has been made, and it shall be lawful to realize the amount of such tax so determined on a yearly basis according to the changes n the aforesaid index till the next general valuation of such lands and buildings.(4)In calculating the amount of property tax and the amount payable per quarter after allowing rebate for timely payment, the fraction of a rupee shall be rounded off to the nearest rupee, fifty paise being treated as one rupee.
