Come January 2020 and people residing or operating a commercial establishment/industrial unit in a 26 sq km area under the Panvel Municipal Corporation (PMC) will come under the ambit of property tax. It will, however, be levied retrospectively from 2016,  when the PMC came into being. The areas of Panvel city and New Panvel, who have been paying property tax to the Panvel Municipal Council, will be exempted from this retrospective taxation.

"We should have begun levying property tax since the formation of the corporation. But the PMC did not do it for the first two years. It will be a major source of revenue generation for the corporation from 2020," said PMC Commissioner Dr Ganesh Deshmukh. The taxes recovered for 2016-20, however, will be interest-free, he said.