The property tax collection of the Nashik Municipal Corporation (NMC) on Monday touched the Rs 200 crore mark, a 33% rise in property tax collection during the same period last year.
NMC set the property tax collection target of Rs 250 crore for the current financial year 2024-25. The civic body has to collect the remaining Rs 50 crore during the next three months to meet the target.
During the same period last year, NMC had collected Rs 150 crore property tax only.
NMC officials said, “The move to introduce an amnesty scheme for the tax defaulters yielded good results as we collected Rs 55 crore through the amnesty scheme since Oct 1.”Last financial year 2024-25, the civic body collected Rs 207 crore in property tax, which was the highest ever property tax collection in the history of the civic body. This year, the NMC is likely to record the highest ever property tax collection.
According to NMC officials, they have an estimated property tax dues of Rs 600 crore, including Rs 268 crore penalty levied on the dues.
NMC levies a 2% penalty every month on the property tax dues. Moreover, it also recovers expenses of notices and warrants issued to the tax defaulters.
NMC officials said they introduced the scheme from Oct 1 this year, with a concession of 95% on penalties for those paying their property tax dues till Dec 31. This scheme yielded good results as the NMC could mop up Rs 55 crore through the amnesty scheme and waived the penalty amount of Rs 25.91 crore.
This is the reason the NMC’s property tax collection touched the Rs 200-crore mark, added the NMC officials.
NMC officials said that the amnesty scheme will be in effect in January next year only with an 85% rebate in penalty amount if the defaulters pay their dues. But they will take action against the property tax defaulters after the amnesty scheme is over on January 31 next year (2025).
