Property tax hike avoided in Mumbai, a big relief to Mumbaikars: ABP Majha

In the Corona crisis, a decision has been taken in the state cabinet meeting not to increase property tax in Mumbai. Therefore, the increase in property tax has been avoided for the next year. ((Mumbaikars have been relieved by this decision taken by the state government on the backdrop of Mumbai Municipal Corporation elections.)) But this decision will result in a loss of Rs 1,042 crore to NMC. As per Mumbai Municipal Corporation Act, capital value is revised every five years. The result is an increase in property taxes. Mumbai had earlier raised property tax in 2015. After that, this increase was expected in 2020. But the Corona crisis has delayed the decision to raise capital and raise taxes.

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