BMC collected record breaking property Tax in one day

Mumbai: Brihanmumbai Municipal Corporation (BMC) is competing against time to achieve its collection target of Property taxes for the fiscal year on end of the March 31. BMC on Monday collected Rs 415 crore in property tax arrears. BMC's tax collection has now reached Rs 3,500 crore. After the March 8 deadline for property, companies to pay property tax, BMC tightened its tax collection. Since February, the civic body has raised Rs 100 crore per day. In March alone, BMC collected Rs 1,100 crore in property tax from defaulters.

BMC not only started attaching the assets of the defaulters but also started auctioning off the properties. BMC has a total property tax of Rs 20,000 crore. The civic organization is facing a severe crisis this year due to low discounts tax due to Covid-19 pandemics, especially from builders and contractors. On Monday, we achieved a record collection of Rs 415 crore. In the first week of March, we have already raised Rs 1,100 crore. We are confident that we will achieve our revised target of Rs 4,800 crore,”said Assistant Municipal Commissioner,   Dr. Sangeetha Hasnale said.

We have created a list of the top 100 defaulters in all 24 wards and are focusing on levying property tax on them,”she said. Property tax collection has been revised to Rs 4,800 crore due to the covid-19 pandemic, officials said. For commercial properties, the last date for payment of tax without penalty is March 8 and the last date for payment of tax on residential property is March 31. If they do not pay, then they will have to pay a two percent fine,”said Dr. Hasnale.