Mira-Bhayandar: The Mira Bhayandar Municipal Corporation (MBMC) now faces the daunting task of augmenting its receipts towards property tax revenue by at least 25% to remain eligible for grants provided by the central government for various projects and initiatives under the aegis of the 15th finance commission. Based on the instructions given by the Ministry of Finance (MoF), the Navi Mumbai-based Directorate of Municipal Administration, in its letter dated Dec 27, 2022, has directed all urban local bodies (ULB) across the state including the MBMC to augment property tax revenue by 25-30% in the current fiscal as compared to revenue generated last year.
As per information sourced from the tax department, the target was set at Rs190 crore for the financial year 2021-22. However, the MBMC managed to mop up just Rs161 crore. With the latest directions, the MBMC is mandated to recover at least Rs200 crore to keep itself qualified for grants under the 15th finance commission. “We are not only augmenting property tax collections but also tapping into other sources of revenue generation in various fields, mainly advertising and land rent. Necessary instructions have been given to all departments,” MBMC Commissioner Dilip Dhole said.
The MBMC has to recover the outstanding amount within three months, by the financial year end on March 31, 2023. The assessed number of properties in the twin-cities is currently pegged at around 3,68,501, including 63,498 commercial and 3,05,003 residential units. Apart from imposing conditions on the ULBs for timely publishing of annual accounts and service-level benchmarks, the commission has emphasised expediting improvements in the property tax system.
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