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  Metros   Mumbai  13 Apr 2018  BMC collected Rs5,000 crore in 2017-18

BMC collected Rs5,000 crore in 2017-18

THE ASIAN AGE.
Published : Apr 13, 2018, 2:00 am IST
Updated : Apr 13, 2018, 2:00 am IST

However, in the next six months, the BMC implemented various measures to increase the property tax collection.

File picture of the BMC headquarters.
 File picture of the BMC headquarters.

Mumbai: Contrary to expectations, the Brihanmumbai Municipal Corporation (BMC) managed to collect property tax of Rs 5,132 crore for the financial year of 2017-18. It is also the first time that the civic body has crossed the mark of Rs 5,000 crore in property tax revenues during the year.

For the year 2017-18, BMC’s assessment and collection department had set a target of Rs 5,400 crore for property tax collections. However, by the end of mid-year, only Rs 2,088 crore had been collected, raising serious doubts over the BMC reaching the annual target.

However, in the next six months, the BMC implemented various measures to increase the property tax collection. Due to which, by December last year, Rs 3,066 crore was deposited into the civic coffers. This further increased by Rs 3,746 crore by the end of February. In March, the BMC made a substantial collection of Rs 1,386 crore, enabling the BMC to cross the mark of Rs 5,000 crore in property tax revenues. The collection of Rs 5,132 crore is Rs 285 crore more than 2016-17’s collection of Rs 4,847 crore. “Citizens can pay property tax bills in the ward offices or Citizen’s Facilitation Centres. It can also be paid online on BMC’s website ww.mcgm.gov.in. Those who will pay property tax of the entire year before June 30, will receive early bird
discount of two per cent on bills of first six months and four per cent on bills of next six months,” said a civic official.

Tags: property tax, bmc