Gudiyattam Gudiyattam Town - Municipal

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Chapter ñ14 Final Report: Gudiyattam Municipality 14.5 BASIC ASSUMPTIONS FOR PROJECTIONS : The FOP is based on a whole range of assumptions related to income and expenditure. These are critical to ascertain the investment sustenance and would also provide a tool to test certain specific policy decisions regarding revenue and expenditure drivers on the overall Municipality fiscal situation. This section elucidated the key assumptions adopted for the FOP scenario. The growth rates for the various heads of income and expenditure have been arrived based on the past growth rates and the future estimated population growth. Improvements to the existing current and arrears collection percentages have been assumed for the various revenues directly collected by the Municipality, which implies that the Municipality would have to improve its collection mechanism to sustain full investments. Given below are the various assumptions forming part of the FOP workings : 14.5.1 Property Tax The population of Gudiyatham Municipality is estimated to grow at around 1.20% p.a. Based on the same Property Tax Revenue are assumed to increase @ 1.20% per annum. The last revision of Property Tax was carried out on 1-10-98 and it is assumed that the next revision will be carried out in the current year. It is assumed that there will be an increase of 15% due to revision in 2008-09 & that revision would be done @ 15% every 5 years. It has also been established as per the Survey in 2002 that around 27% of the properties are unassessed and further 20-25% of the properties are unassessed. Considering the above, it is assumed that the same shall be set right and together these shall contribute to increase in property tax revenue by 10% from next year viz. 2009-10 after GIS mapping. The Property Tax income is divided between Revenue, Water Supply and Education Fund in the following ratio: General 5.750% ) Scavanging 1.250% ) Lighting 3.000% ) Table 14-6: Ratio of Property Tax Per Annum - 147 - Revenue & Capital Fund Water Tax 3.750% } Water Supply & Drainage Fund Drainage 1.250% } Education 2.500% ] Total 17.500% Education Fund Voyants Solutions Private Limited
Chapter ñ14 Final Report: Gudiyattam Municipality 14.5.2 Profession tax Income from Profession Tax is assumed to increase @ 3% per annum. The Profession Tax was last revised on 1.10.2003 and the next revision is due in 2008-09. It is assumed that every revision would contribute to 15% increase. Besides, the profession tax base would be increased by carrying out survey in 2010- 11. It is assumed that the survey would result in increase in profession tax base by 20% in 2010-11. 14.5.3 Assigned revenue Assigned Revenue comprises Entertainment Tax and Surcharge on Stamp Duty. It is assumed the same shall increase as under : Duty on Transfer of Property : 5% Entertainment Tax : 1% 14.5.4 Devolution Fund Devolution Fund is also assumed to increase by 7.5% per annum 14.5.5 Service charges and fees Service Charges and Fees are assumed to increase @ 8% per annum 14.5.6 Grant and Contribution No Grant has been assumed in the financial projections. 14.5.7 Sales and Hire charges Nil income assumed from Sales & Hire Charges. 14.5.8 Other Income Other Income comprising basically fees and other rental income are assumed to increase @ 5% per annum. 14.5.9 Water Supply Charges The present connection charges/deposit and tariff for water are as below : Table 14-7: Water supply Charges - Existing Type of service connections Connection Tariff/Per Month Residential Rs. 3000 Rs.50.00 Commercial Rs. 6000 Rs.200.00 Industrial Rs. 8000 Rs.200.00 It is assumed that after completion of water supply improvements work, the house service connections will be equal to 90% of property tax assessments. - 148 - Voyants Solutions Private Limited
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Gudiyattam Gudiyattam Town - Municipal

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