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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]
The Revenue Department of GVMC generates its revenue by levying of Property Tax, Vacant Land Tax and it is collection and dealing with Remunerative Enterprises, Water Charges etc. [106]
A land value tax (LVT) is a levy on ... It sets a maximum tax rate of 1.2% on commercial and vacant land, 0.3% on residential land and 0.15% on agricultural land ...
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. 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]
Land value taxation (i.e. property tax applied only to the unimproved value of land) has a long history in the United States dating back from Physiocrat influence on Thomas Jefferson and Benjamin Franklin. It is most famously associated with Henry George and his book Progress and Poverty (1879), which argued that because the supply of land is ...
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The Fourteenth Finance Commission of India was a finance commission constituted on 2 January 2013. The commission's chairman was former Reserve Bank of India governor Y. V. Reddy and its members were Sushma Nath, M. Govinda Rao, Abhijit Sen, Sudipto Mundle, and AN Jha. The recommendations of the commission entered force in April 2015; they take ...