Citizens should brace themselves for a possible hike in property tax in the financial year 2012-13.

Indications to this effect were given by GHMC commissioner M.T. Krishna Babu at the special council meeting that approved the GHMC budget on Thursday.

Mr Krishna Babu made it clear that while it is not necessary to increase the tax rate, as assured by the mayor, in order to meet the target of Rs 720 crore in the next financial year, it is also a fact that the city is due for a revision in property tax.

“As per the Municipal Corporation Act, property tax has to be revised once every five years. The last time tax was revised in the city was in 2007. So, a tax revision is due in the financial year 2012-13. In 2007, a tax revision notification was issued and in 2012 also a tax revision notification has to be issued,” the commissioner said.

However, Mr Krishna Babu was careful not to mention that the tax will be hiked; only that tax revision is due and a notification has to be issued for it.