NMMC expects to achieve property tax collection target of Rs 600-cr for 2021-2022

The Navi Mumbai Municipal Corporation (NMMC) expects to meet its 2021-22 property tax collection target of Rs 600 crore. By the end of November 2021, the civic body had already raised Rs 295.14 crore. Officials said this was a conservative estimate as many citizens were unable to pay taxes due to loss of income in the previous fiscal year due to the pandemic situation. .

A senior municipal official said that NMMC is running the Abhay Yojana to waive interest on late payments which will increase their tax collection. He added that the civic body raised Rs 159 crore under the program in the previous financial year.

Under the NMMC, there are 3,25,179 property tax holders, of which 2,60,932 are residential, 58,611 non-residential and 5,636 units are industrial. “The majority of taxes come from industrial units and they are paid at the end of the fiscal year,” the official said.

Despite the Covid-19 outbreak, the civic body had managed to collect over Rs 540 crore as property tax in 2020-21. The collection fell short of the budget estimate of Rs 630 crore.

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Posted: Tuesday, March 1, 2022, 10:47 p.m. IST

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