Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Nashik Municipal Corporation's property tax collection surged by 31 percent, amassing Rs 112 crore from April to August in the current fiscal, a significant rise compared to Rs 85 crore in the previous year. Despite the traditional lull from August to October due to academic admissions, NMC remains resolute about exceeding targets. Assessing 1.27 lakh properties with additional construction, NMC aims to elicit objections for supplementary property tax. It plans a recovery drive for dues over Rs 1 lakh and a survey for untaxed properties. With a target of Rs 210 crore, NMC exhibits robust fiscal commitment.
Experiencing a remarkable upsurge of 31 percent, the Nashik Municipal Corporation (NMC) has effectively amassed a substantial sum of Rs 112 crore in property taxes during the period from April 1 to August 7 within the ongoing financial year. This impressive achievement stands in stark contrast to the Rs 85 crore collected during the corresponding interval in the preceding fiscal. Underpinned by unwavering determination, officials of the NMC are ardently committed to surpassing their property tax collection target within the forthcoming two months, defying the conventional lull that characterizes the August to October phase, primarily due to the prevailing academic admissions.
Advertisement
Undeterred by these seasonal challenges, the civic authority continues its robust pursuit of increasing revenue. NMC officials revealed that they have employed a multifaceted approach to actively engage in evaluating approximately 1.27 lakh properties, featuring additional constructions that have hitherto remained off the official record. Impressively, the assessments for nearly 80 percent of these properties have been satisfactorily concluded. In a strategic move, the NMC is poised to initiate the process of soliciting objections pertaining to the supplementary property tax imposed on these constructions. Should no objections be registered, the authority will seamlessly proceed with the imposition of this supplemental levy on the identified properties, thereby bolstering revenue streams.
As part of a comprehensive fiscal strategy, NMC is embarking on a proactive recovery campaign targeting property tax defaulters whose outstanding dues exceed the notable benchmark of Rs 1 lakh. Simultaneously, formal notices are being duly dispatched to these defaulters. Furthermore, the civic body is meticulously devising a comprehensive survey aimed at identifying properties that have hitherto evaded their rightful property tax obligations. Retrospectively, the financial year 2022–23 witnessed the NMC accrue a substantial sum of Rs 188 crore through property tax collections, underscoring its fiscal prowess.
Evidently aspiring for greater fiscal milestones, NMC has boldly set a target of Rs 210 crore for property tax collection in the ongoing fiscal, a testament to its commitment to financial prudence and resource maximization. The NMC's objective is to achieve the highest property tax collection and fulfil the current financial year's target. In the grand choreography of urban evolution, the Nashik Municipal Corporation takes centre stage, crafting an intricate ballet of fiscal success. With every move, their fusion of tenacity and ingenious strategies creates a symphony of advancement, echoing across the cityscape and harmonizing the notes of progress.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
