The Municipal Administration Department of Andhra Pradesh through gazette notification dated 13 August, 2021 has directed the Visakhapatnam Municipal Corporation to implement the Capital Value Added Property Tax as a matter of duty and to reduce the proposed tax on residential buildings from 0.15 percent to 0.12 percent on their capital value, and to impose a tax of 0.30 per cent on residential buildings on their capital value, as well as a tax on vacant land at 0.50 percent on their capital value.
