BMC’s property tax collection up by Rs 700 crore in 2021-22

© Delivered by The Indian Express

Mumbai: The Brihanmumbai Municipal Corporation’s assets tax selection improved by Rs 700 core during 2021-22. The civic body collected Rs 5,792 crore from assets tax in 2020-21 compared to Rs 5,094 crore in 2019-2020.

In comparison to the preceding financial 12 months, the home tax collection greater by 13.77 per cent in 2021-22. The company said that the sum of tax gathered is the greatest in its heritage.

In FY 2019-20, the BMC experienced collected Rs 3,735 crore as home tax and in 2018-19, it gathered Rs 4,492 crore.

Residence tax is one of the primary sources of revenue for BMC and the civic system had ramped up its assortment drive this yr. Every 12 months, it prepares a record of the prime 100 defaulters in just about every of the 24 wards.

The deadline to crystal clear pending assets tax for each and every economical 12 months is March 8 whilst residential qualities get time till March 31.

The assessment and selection office of the BMC problems house tax bills for a certain economic 12 months in Might.

House proprietors get three months from the time of obtaining assets bills to very clear their dues and a penalty of two for each cent is levied in scenario the payments are not paid. Following non-payment of expenses following 90 times, the corporation sends repeated reminders and notices to the defaulters.