Even as the BMC is searching for a regular income source, officials have calculated the worth of another dent in its second highest source of revenue, property tax. The Supreme Court's decision invalidating standards to determine the capital value of land will result in R1,000 crore loss in property tax every year for the BMC. It will reduce its earnings in addition to the tax revision which has been on hold for the past three years.

The BMC, which presents a yearly budget of more than Rs 40,000 crore, is still highly dependent on the compensation for loss of octroi (Rs 11,429 crore) from the state. The next source of income was property tax and the BMC estimated it would collect R7,000 crore from it in 2022-23, considering revision of taxes with a 17 per cent hike. But the state government refused to agree for the third consecutive year and the BMC was able to collect only 60 per cent of it with two months remaining.