South Delhi Municipal Corporation.. Image Source: IANS News

New Delhi, June 30 : South Delhi Municipal Corporation has extended date of deposition of property tax to July 31, with a 15 per cent rebate.

An office order issued by the SDMC said that "with the approval of competent authority, the last date for lump sump payment has been extended to July 31".

MCD levies property tax on buildings and vacant land. There are three ways of computing taxes -- annual rental value, capital value and unit area system.

Property taxes are the main source of revenue for municipal authorities to maintain the basic civic services in the area of jurisdiction, which is charged every year.

Earlier, the North Delhi Municipal corporation extended the deadline till July 31.

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