Thiruvanandapuram: The Kerala State Budget has decided to double the rates of building and luxury taxes. This will mobilize considerable revenues additionally for the state treasury.

The State Budget for 2014-15, was presented by Finance Minister K.M. Mani in the Assembly. Finance Minister said that the building tax was being revised after 17 years and the rates doubling were expected to provide Rs.70 Crore additionally.

Houses with an area of 1, 00 sq.m and other buildings having up to 50 sq.m area would be exempted from building tax. This is, in view to assist farmers. Residential buildings, cattle-caring units, poultry units and piggeries would also be exempted from building taxes.