Mumbai: BMC Collects ₹600 Crore Property Tax Within A Week

Mumbai: BMC Collects ₹600 Crore Property Tax Within A Week

The relentless efforts of assessor and collection department has added Rs. 2,213 crores of revenue to the BMC's kitty till March 27. However, the civic official are finding it challenging to achieve target of Rs. 4,500 crore for fiscal 2023-24.

SHEFALI PARAB-PANDITUpdated: Wednesday, March 27, 2024, 10:57 PM IST
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BMC | File pic

Mumbai: Around Rs.600 crores of property tax has been collected by the civic team within a week. The relentless efforts of assessor and collection department has added Rs. 2,213 crores of revenue to the BMC's kitty till March 27. However, the civic official are finding it challenging to achieve target of Rs. 4,500 crore for fiscal 2023-24.

The property tax bills were sent to the tax payers on February 27. Since the bills were delayed the civic body has allowed tax payers to pay their property tax by May 25. However, since property tax is the important source for providing funds for infrastructure projects, the civic body has set a target to collect at least 70% of the property tax revenue by March 31.

Accordingly, the civic body has focused on the big defaulters, by releasing a list of the top 10 defaulters owing a larger sum of pending property taxes. With just four days left to end for the financial year 2023-24, the BMC has allowed bill payments on weekends and holidays.

"The facilitation centres in BMC headquarters and at the 24 administrative wards will be opened for tax payers from 8 am to 10 pm between March 28 to 30. While it will be opened till 12 am on March 31," said the civic official.

The property tax bills are sent by July for every financial year. The bills were delayed due to disputes over new methods of tax calculation and was sent with 20% hike in December 2023. However, after receiving flak from the citizens the bills were withdrawn and fresh bill with no hike was sent in last month.

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