Sunil Dhamne News Today

The delay has resulted in losses for the BMC, as property tax is its 2nd largest source of revenue

The BMC had to revise the target of property tax collection from ₹7,000 crore to ₹4,800 crore owing to exemption for residential properties up to 500 sqft.

The BMC, on its part, denied the allegation of a scam of Rs100 crore in awarding contracts to Lifeline Hospital Management Services to supply personnel for two field hospitals, pointing out that it had only paid the agency Rs 33.13 crore.

The BrihanMumbai Municipal Corporation has collected Rs3,562 crore by way of property tax till December 31, despite giving exemption to residential properties upto 500 sq ft.

Property owners who fail to pay property tax will face a penalty of up to 2 per cent after December 31. This will be levied in line with the provisions of the Mumbai Municipal Corporation (MMC) Act 1888, Section 202. As such, a monthly penalty will be levied on the outstanding amount.

The civic body has set a target of Rs. 7,000 crores for the financial year 2022–2023. The collection of property taxes picks up after November, said the civic officials.

Property tax is one of the primary sources of revenue for the civic body. As per the Mumbai Municipal Corporation Act, property tax in the city is revised every five years.

CM Uddhav Thackeray asked the administration to implement it immediately. Nearly 16 lakh homes that reside many will get benefits due to the waiver.