NMC registered record property tax collection, of Rs 256 crore, in the 2024-25 financial year that ended on March 31.
This represents the highest amount of property tax ever collected by the Nashik Municipal Corporation (NMC) in its four-decade history. The previous record was Rs 206 crore, set in the financial year 2023-24. Although the civic administration had aimed for a property tax collection of Rs 245 crore for 2024-25, it exceeded this target by Rs 11 crore.
NMC recorded a 25% increase in property tax collection for the 2024-25 financial year compared to the previous year. For the ongoing financial year 2025-26, the NMC has established a new target of Rs 290 crore for property tax collection.
NMC has 5.6 lakh taxpayers on the record with the property tax department across all six divisions.Out of a total property tax collection of Rs 256 crore, the Panchavati division led with Rs 54 crore, followed closely by the Cidco division at Rs 52 crore and Nashik East at Rs 48 crore. The remaining Rs 102 crore in property tax was gathered from the other three divisions: Nashik Road, Nashik West, and Satpur.
Nashik Municipal Corporation (NMC)After July, the rebate for online payment of property tax will be cut to 1%. decided to give a 2% rebate to taxpayers who pay their property taxes online in the April-June period of the current financial year.
NMC has already announced additional incentives for prompt taxpayers if they pay the complete annual property tax amount between April and June.Taxpayers will receive an 8% rebate for payments made in April, 6% for those made in May, and 3% for payments made in June. Consequently, if the entire property tax is paid online in April, the total rebate will amount to 10% (including the 2% online discount); for payments made online in May, the total will be 8% (including the 2% online discount); and for June, it will be 5% (including the 2% online discount).
The revenue through water tax declined by 8.3% to Rs 49.6 crore in 2024-25, against Rs 54 crore in the 2023-24 financial year.
