Navi Mumbai : The Navi Mumbai Municipal Corporation has decided not to increase property tax for the next fiscal 2014-2015.
According to sources, the decision of standing committee was in line with guardian minister’s directive to NMMC in 2005, where he had said not to hike property and water charges for the next 20 years. Last year, the general body had turned down a proposal of administration where it had advocated changing water charges slabs from Rs.50 for 30,000 litres to Rs.50 for 22,500 litres.
Ganesh Naik, Thane Guardian Minister, supporting the civic body’s move said, “The NMMC has decided that LBT rate will be fixed at 1.5%. However, the final call be taken at the Mantralaya.” It is learnt that the civic body is also considering slashing the Local Body Tax, and not to increase water tax, education cess, tree tax, sewerage tax and town planning tax too.
“Residents are already over-burdened due to exorbitant prices of essential commodities. Recent economic slump has also hit the business community and it will be better if the civic body keeps property tax at the current level”, said an NCP Corporator on condition of anonymity.
While the NMMC charges 23.5% tax on residential property, it has levied 32.5% and 40.5% tax for commercial property and industrial property respectively.