Jul 17 2011 |
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Real estate tax defaulters exempted from fines - GAM
By Khaled Neimat AMMAN - The Greater Amman Municipality (GAM) on Saturday started implementing a decision to exempt owners of land and property from fines accrued as a result of overdue real estate tax payments.Last week, the Cabinet endorsed the decision, which is expected to generate some JD69 million for the municipality, according to the GAM press centre.
However, property and land owners who wish to benefit from the exemption must pay their dues before the end of this year, according to GAM Financial Department Director Ramzi Bukhari, who noted that the exemptions are estimated at JD20 million.
The majority of defaulters owe more than JD500 in overdue payments, while their overall real estate taxes amount to over JD24 million and their fines stand at JD8 million, according to GAM .
The decision is being implemented amid a financial crisis and liquidity shortage at the municipality, which forced it to resort to selling its assets to secure the cash needed to meet its financial obligations, according to a source at GAM .
The municipality recently posted an advertisement in local dailies to sell a 5,650-square-metre plot of land owned by GAM in the west Amman Abdoun neighbourhood, setting August 16 as a deadline for offers.
The move, coupled with its attempt to encourage citizens to pay their dues reflects the level of the financial crisis currently faced by GAM , the source noted.
The municipality suffers from a "huge" burden of loans that exceeds JD400 million, he said, adding that the latest JD42 million loan from commercial banks was to "pay the interest of previous loans".
The recently dissolved GAM council endorsed the municipality's JD406 million budget for 2011 with a deficit of JD11 million.
© Jordan Times 2011
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