Navi Mumbai: NMMC sets target of Rs 600 crores property tax collection, Rs 470 crores collected till Wednesday

The Navi Mumbai Municipal Corporation (NMMC) is making all efforts to meet the target of Rs 600 crores property tax collections by the end of the financial year. Till Wednesday, the civic body had already collected Rs 470 crores and it has set a target to collect the remaining Rs 130 crores till March 31.

The civic body also issued notices to 299 property tax holders to pay their pending taxes by March 31, 2022, or ready to face action. Around Rs 22 crores property tax is pending with these 299 defaulters.

According to the civic body, small and medium enterprises in the TTC industrial area are not willing to pay even the principal amount, despite the civic body offering rebates on interest due to delayed payment. The arrears for the last fifteen years from several industrial units are around Rs 2,300 crore. Efforts are being made to meet the target of Rs 600 crore this year.

The civic body will get GST reimbursement of Rs 1300 to 1400 crore from the state government. After GST, property tax is another major source of revenue, the corporation is putting effort into generating income from property tax. The civic body has set a target of Rs 800 crore for the next financial year.

In order to increase the revenue from property tax, all the properties in the city will be surveyed by Lidar technology by drone survey. Recently, the civic body has received permission from the central government for drone surveys.

In the last financial year, the civic body had collected around Rs 159 crores under the Amnesty Scheme. This year, the scheme has been extended till March 31. Initially, the civic body had implemented the Abhay Yojana of amnesty scheme from October 1, 2021, to February 28, 2022, to provide relief to the property tax holders who could not pay taxes due to Covid pandemics. Later the scheme was further extended till March 31. Under the scheme, if the property holder pays the entire arrears of his property tax, only 25% of the penalty amount will be charged and he will get a huge discount of 75% on the penalty amount.