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Greater Visakhapatnam Municipal Corporation (GVMC) is the civic body that governs the city of Visakhapatnam, largest city of the Indian state of Andhra Pradesh. Its jurisdiction encompasses an area of 640 km 2 (250 sq mi). [2][3] It is also part of the planning body of the Visakhapatnam Metropolitan Region Development Authority. [4]
t. e. Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio ...
Administration of Visakhapatnam. The Administration of Visakhapatnam officially started in 1803, [1] with the municipality of Visakhapatnam being established in 1861. [2] Currently, it is known as the Greater Visakhapatnam Municipal Corporation (GVMC). Its total area is 681 km 2 (263 sq mi) with 98 wards and 8 zones. [3]
The GVMC estimated a budget of ₹ 4,171 crore (equivalent to ₹ 49 billion or US$590 million in 2023) for the financial year 2020–21. It shows an increase of ₹ 337 crore (equivalent to ₹ 419 crore or US$50 million in 2023) compared to the last budget for 2019–20. [ 105 ]
The amount of property tax is equal to the tax base x the tax rate voted by the municipality. The tax base is equal to 50% of the cadastral rental value of the property (For non-built properties, this tax base is equal to 80%). To this base is then applied the revaluation coefficient. (It stood at 1.012 for 2020).
The 2021 Greater Visakhapatnam Municipal Corporation election were held on 10 March 2021 to elect members to all 98 wards of the municipal corporation. [1] [2] The ruling YSRCP party was able to cross the magic figure and won the GVMC Elections 2021. Of 98 wards, YSRCP won 58 wards, TDP won 30 wards, Janasena Party won 4 wards, BJP won 1 ward ...
Administration. The area of Vijayawada Municipal Corporation is 61.88 km 2 (23.89 sq mi). The city constitutes 64 political wards. [5] The Corporation is administered by an elected body headed by the Mayor. The corporation population as per the 2011 census was 1,039,518 with 527,307 males and a female population of 512,211. [3]
Canada. In Canada, payment in lieu of taxes are made in place of property taxes on real property owned by federal, provincial, and municipal governments and government agencies to local governments and reserves. [4] They need for PILTs arises from Section 125 of the Constitution Act, 1867 which prohibits levels of government from taxing real ...