Is there land tax in Karnataka?
Yes, there’s land tax payment in Karnataka. Residential and commercial real estate properties in Karnataka are subject to taxes ranging from 0.3% to 1% of the guideline value. However, recent developments suggest that the Cabinet has approved a proposal to increase these tax rates to a range between 0.5% and 1.5%. This decision could potentially impact property owners across the state, leading to higher tax obligations on their real estate holdings.