The standing committee of the PMC on Wednesday decided not to increase the property and entertainment tax for the 2022-23 fiscal. “The decision has been taken looking at the income and the likely expenditure of the civic body,” said Hemant Rasane, the chairman of the standing committee.
As many as 12 lakh properties are liable to pay the property tax to PMC. The civic body earns Rs1,200-1,300 crore per year through it.
The revenue target on the property tax head for the 2021-22 fiscal is around Rs2,000 crore. The new tax target to be set in the civic budget for the 2022-23 financial year is likely to be Rs2,232 crore. .
The standing committee also approved the proposal for two civic hospitals. The diversion of funds for the Prime Minister housing scheme was approved on Wednesday. Nearly Rs27.68 crore would be diverted for this initiative.