In some good news for Mumbaikars, henceforth one doesn't have to pay property tax to the Brihanmumbai Municipal Corporation (BMC) if they own a flat of 500-sq ft or less.
According to DNA, the Maharashtra Government on Tuesday made amendment in the Municipal Corporation Act exempting property tax for property sizes of 500 sq ft or less, and the bill was passed in the State Legislative Council on Monday. While announcing property tax waiver, Chief Minister Devendra Fadnavis said that the waiving of property tax decision will benefit nearly 30 lakh properties in Mumbai including 15 lakh residential properties as well.
He told the DNA, "The BMC is financially capable to bear the cost of waiving of property tax. If other municipal corporations can do the same, then we will welcome their decisions and approve it in the Maharashtra state assembly."
However, Rahul Narvekar, NCP MLC opposed it. He told the leading daily, "In Mumbai, a 500-sq ft of flat cost in Nariman Point and that of suburbs like Dahisar and Mulund will be different. In Mumbai, locations matters. Hence, the property tax exemption should have been based on the government value of the flat rather than its size."
The Maharashtra cabinet, on March 8, 2019, approved a proposal to exempt residential properties up to 500 sq ft, within the Mumbai municipal area limits, from property tax. But the proposal was cleared on July 1.
