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Nashik Municipal Corporation (NMC) has successfully collected INR 40 crore of the INR 600 crore in property tax arrears through its amnesty scheme, which began on October 1. The scheme, offering significant penalty waivers, has proven effective, with INR 13 crore collected in the past three weeks alone. Defaulters who settle by December 31 can avail of up to a 95% penalty reduction, while those paying in January are eligible for an 85% waiver. Despite a slow response in 2021, this year's scheme is seeing better participation, and NMC expects to collect an additional INR 25-30 crore before the scheme ends on January 31.
Nashik Municipal Corporation (NMC) has managed to recover INR 40 crore of the INR 600 crore in property tax arrears through its amnesty scheme, which launched on October 1. Over the last three weeks, the scheme has brought in INR 13 crore. Of the total arrears, INR 268 crore is made up of penalties. Advertisement
The NMC imposes a 2% monthly penalty on unpaid property taxes and additional charges for notices and warrants issued to defaulters. However, under the current amnesty scheme, those who pay their dues by December 31 can receive a waiver of up to 95% on penalties, while those who settle in January will get an 85% penalty reduction.
Officials from the NMC have said that the amnesty scheme has produced positive results, with approximately INR 40 crore recovered from defaulters. Initially, the scheme offered an 85% penalty concession for December payments, but this was later increased to 95%.
This year's scheme has been significantly more successful than the one introduced in 2021. In 2021, the NMC launched a similar amnesty scheme for property tax defaulters during October and November. However, the response was poor, with only INR 14.86 crore collected during the two months. In contrast, the current scheme has seen a far better response. An NMC official mentioned that the response this year was much better than in 2021, and they were expecting to collect another INR 25-30 crore by January 31.
In addition, NMC has set a property tax collection target of INR 250 crore for the current financial year. So far, the civic body has collected over INR 189 crore, surpassing the INR 155 crore collected during the same period last year, reflecting a year-on-year improvement.
The ongoing amnesty scheme by the Nashik Municipal Corporation has yielded significant results, with INR 40 crore collected so far out of a target INR 600 crore in arrears. The initiative has proven more successful than the 2021 scheme, with NMC officials anticipating further collections in the remaining weeks. As the deadline of January 31 approaches, the scheme is expected to bring in an additional INR 25-30 crore, helping the civic body edge closer to its annual target of INR 250 crore in property tax collections. The scheme has provided relief to both defaulters and the NMC's revenue collection efforts, highlighting the improvement in response compared to previous years.
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