The Nashik Municipal Corporation recorded an increase of 40% in the first half of the ongoing financial year 2018-19. In comparison to the last financial year, this is a huge increase in the property tax collection. According to the official of NMC [Nashik Municipal Corporation], the property tax structure is the reason behind this sudden increase.
The property tax collection of the NMC stands at Rs 78.39 crore in the first six months of the current fiscal year 2018-19 in comparison to Rs. 55.42 crores in the last fiscal year of 2017-18. The civic authority increased property tax rates in the range of 37% to 40% and started implementing the same from the current financial year.
According to the sources, the property tax department distributed the property tax bills to the taxpayers by May end and is also the reason for 40% in the property tax collection.
An official said that the authority aimed at property tax collection and thus started taking action against defaulters who failed to pay tax in the last financial year and we will also take strict action against the defaulters this year also.
For the first time, the Nashik Municipal Corporation’s property tax collection touched the mark of Rs. 90 crore during the last financial year i.e.2017-18 and this is the amount collected after taking action against defaulters. Similarly, in 2016-17, the civic body collected revenue of Rs 85.75 crore via property taxes.
The authority aims to collect a minimum property tax of Rs.253 crores for the ongoing fiscal year 2018-19 and is hopeful about achieving the target.