50% Owners Default On Property Tax, Scrape Cash-Strapped NMC Coffers, ET RealEstate
Nagpur Municipal Corporation (NMC) data reveals that 50% of property owners in Nagpur have defaulted on their property tax, leading to a significant shortfall in revenue. The total unpaid taxes amount to 140.93 crore, with most defaulters owing less than 10,000. Explore the impact of tax defaults on NMC's financial health and the initiatives taken to improve tax collection.