Question
Question Box :
How does the Municipal Corporation get its money ?
How does the Municipal Corporation get its money ?
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Answer
→ Providing and running so many services requires a lot of money.
→ The Municipal Corporation collects this in different ways :
• A tax is a sum of money that people pay to the government for the services the government provides.
· People who own homes have to pay a property tax as well as taxes for water/ sewerage and other services.
· The larger the house the more is the tax.
· Property taxes however form only 25-30 percent of the money that a Municipal Corporation earns.
• There are also taxes for education and other amenities.
• If you own a hotel or shop then you have to pay a tax for this as well.
• Also, you have to pay entertainment tax for seeing movies etc.
• A much wider population pays more general taxes.
Thus, money comes to the Municipal Corporation through various taxes.
→ The Municipal Corporation collects this in different ways :
• A tax is a sum of money that people pay to the government for the services the government provides.
· People who own homes have to pay a property tax as well as taxes for water/ sewerage and other services.
· The larger the house the more is the tax.
· Property taxes however form only 25-30 percent of the money that a Municipal Corporation earns.
• There are also taxes for education and other amenities.
• If you own a hotel or shop then you have to pay a tax for this as well.
• Also, you have to pay entertainment tax for seeing movies etc.
• A much wider population pays more general taxes.
Thus, money comes to the Municipal Corporation through various taxes.
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