Mumbai News: The Target Was 4,800, BMC Collected 5,575 Crore Property Tax ... Earned A Lot In 5 Days

Mumbai: After the Corona crisis, Mumbaikars have filled BMC coffers with property tax. By the last day of the financial year ended March 31, the BMC has collected property tax of Rs 5,575 crore, which is Rs 7,75 crore more than the fixed Rs 4,800 crore. BMC Joint Commissioner Sunil Dhamane said that 16.14 percent more property tax collection has been done, this is an important achievement of ours. Last year, BMC had collected Rs 5,792 crore till March 31. That is, Rs 217 crore less property tax has been collected this year as compared to last year.

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Till January 22, BMC was able to recover Rs 3849 crore as property tax. Till March 4, BMC had received property tax of Rs 4,429 crore. Property tax of Rs 4,574 crore was received till March 15 and Rs 4,854 crore till March 26, 2023. That is, in the last 5 days, BMC got Rs 721 crore as property tax. Property tax accounts for more than 20 percent of the total income of BMC.

The target was up to 6000 crores

BMC had set a target of collecting Rs 7000 crore as property tax in the financial year from April 1, 2022 to March 31, 2023. But it was revised to Rs 6,000 crore. Thereafter, the revised target was raised to Rs 4,800 crore after waiving tax on 500 sq ft houses in Mumbai. Homes up to 500 square feet in Mumbai were completely exempted from property tax. Which has benefited a total of 16 lakh 14 thousand flat holders in Mumbai. Property tax accounts for more than 20 percent of the total income of BMC.

In the financial year ending 12 midnight of March 31, 2023, property tax has been collected to the tune of Rs 5 thousand 575 crore 44 lakh, which is about 17 percent more than the target. This is the result of cooperation of Mumbaikars and hard work of BMC officials.

Sunil Dhamane, Joint Commissioner, BMC

Recovery of property tax in 3 years:

2021: Rs 5091 crore
2022: Rs 5792 crore
2023: Rs 5575 crore

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The target was up to 6000 crores

Recovery of property tax in 3 years:

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