Mumbai News: BMC Collects Record ₹7,534 Crore Property Tax In FY26, Surpasses Target With 102 Per Cent Recovery
The BMC has collected a record Rs 7,534 crore in property tax for FY 2025–26, surpassing its target and achieving 102% recovery. The milestone was driven by strict action against defaulters, public awareness campaigns and extended payment hours. Thousands of properties were attached, boosting compliance and strengthening civic revenue.
BMC achieves record property tax collection as enforcement and awareness drive boost revenue in Mumbai | File Pic
Mumbai, March 31: The BMC has collected record-breaking property tax for the financial year 2025–26 of Rs 7,534 crore as of 8.30 pm on March 31, surpassing its target of Rs 7,341 crore.
The percentage of tax collection comes to 102% of the revised target. The deadline for paying the property tax online was 12 am midnight on March 31, and the corporation expects the percentage to increase.
BMC surpasses revised target
The BMC was confident of achieving 100% property tax collection for March 2026, with 94.12% of its target realised till March 30. "However, with effective public awareness campaign, strict follow-up on defaulters, the civic body has successfully fulfilled the revised revenue target set for the financial year 2025–2026 by 100 percent," Additional Municipal Commissioner, Dr Ashwini Joshi said.
Enforcement and recovery measures
Targets had increased after property tax was restructured to 15.89% based on revised Ready Reckoner rates. The civic body has attached 6,922 properties with unpaid tax totaling Rs 6,089 crore. Following this, 2,888 defaulters cleared Rs 784.32 crore in dues. Currently, 483 properties are under seizure and 210 are set for auction.
Also Watch:
ALSO READ
Extended support and strict action
Citizen Facilitation Centres will remain open until midnight on March 31 to assist taxpayers. Failure to pay will result in strict punitive action.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
RECENT STORIES
-
-
-
-
-