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  Metros   Mumbai  24 Mar 2018  BMC may exceed property tax target

BMC may exceed property tax target

THE ASIAN AGE. | BHAGWAN PARAB
Published : Mar 24, 2018, 5:15 am IST
Updated : Mar 24, 2018, 5:15 am IST

According to civic officials, the budget estimates of property tax income were pegged at Rs 5,206 cr-ore.

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

Mumbai: A string of stern actions initiated against property tax defaulters has raised Brihanmumbai Municipal Corporation (BMC)’s hop-es of reaching and even exceeding the property tax collections target this year. Despite the slump in the real estate sector, the civic body is expected to reach property tax revenues of  Rs 5,402 crore as against its initial estimates of Rs 5,206 crore.

According to civic officials, the budget estimates of property tax income were pegged at Rs 5,206 cr-ore. However, considering the slowdown in real estate sector, it had to be revised to Rs 4958.25 crore, a drop of nearly five per cent.

 

The BMC has expedited its action against property tax defaulters. Last week, it sealed 11 properties over non-payment of property tax worth Rs 45 crore. Earlier, the BMC had taken action against 20 properties for not paying property tax worth Rs 47 crore. “There were fears that we will not be able to collect property tax targets this year. The fear was right because of the slowdown in construction activities. However, we have decided to concentrate on recovery of pending property tax dues. For this, harsh action like sealing and seizure of properties, water disconnection will be taken,” said civic chief Ajoy Mehta.

According to civic data, the BMC has a total outstanding of Rs 9,948 crore in property tax. Of the pending dues, more than 50 per cent of the amount, which comes to Rs 5,094 crore, has been disputed. In case of remaining amount of Rs 4,854 crore, action can be taken and we have decided to recover it by adopting several measures, said an official from the civic assessment and collection department.

 

Tags: brihanmumbai municipal corporation, property tax, civic assessment