Home / Mumbai / Mumbai News / Article / Mumbai: Pay 12-18 per cent more in property tax from April 1

Mumbai: Pay 12-18 per cent more in property tax from April 1

This year the civic administration is keen on implementing the hike as there isn’t any other fixed income source for the corporation

Listen to this article :
With waiving of property tax for up to 500 sq ft carpet area, the BMC had lost Rs 462 crore. Pic/Pradeep Dhivar

With waiving of property tax for up to 500 sq ft carpet area, the BMC had lost Rs 462 crore. Pic/Pradeep Dhivar

The citizens may have to pay 12 to 18 per cent more tax from now on, as the BMC is likely to revise property tax. The revision of tax was supposed to take place in 2020. However, it is finally on cards of the BMC and it may be implemented from April 1, in the upcoming financial year 2022-23.

“As per the MMC Act, property tax is revised every five years. It will be implemented from the upcoming financial year,” said Vishawas Mote, assistant commissioner, assessment and collection department. He added the hike will be between 12 to 18 per cent. The civic body had revised property tax on capital base in 2015 and the next revision was expected in 2020. But as the city was hit by the pandemic, the state government decided not to increase the tax.

Exhibition Ad Banner
Exhibition Ad Banner

How do you like the new new mid-day.com experience? Share your feedback and help us improve.

Read Next Story
Mumbai sees 38 Covid cases; 1 death; active tally now is 248

Trending Stories

Latest Photoscta-pos

Latest VideosView All

Latest Web StoriesView All

Mid-Day FastView All

Advertisement