NMMC, PMC offer rebate on property tax to wrap up FY

With the current financial year coming to an end, both the Navi Mumbai Municipal Corporation (NMMC) and the Panvel Municipal Corporation (PMC) are offering property tax rebates. While the NMMC is giving a 75 per cent rebate on the penalty for delayed payment, the PMC has offered five per cent on total property tax if paid by March 31.

The PMC, which is facing stiff resistance on payment vis-à-vis property tax, is offering an additional two per cent rebate for online payment.

While the NMMC is confident that it will achieve the Rs 600-crore target for 2021-22 (it collected Rs 295.14 crore by November-end), the PMC has so far collected a mere 10 per cent of its target.

A senior official said that the NMMC has already launched Abhay Yojana to waive interest on delayed payment. He added that the collection increases during the end of the financial year. In the last financial year, the civic body had collected Rs 159 crore under Abhay Yojana.

Under the NMMC, there are a total of 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 the taxes come from the industrial units and they pay at the end of the financial year,” said the official.

While residents and villagers are opposing tax collection of the PMC, the civic body is trying hard to attract taxpayers. Even last year, it had given a similar offer and collected around Rs 48 crore. In the current financial year, the civic body has collected Rs 84.53 crore.

As per the civic body’s record, there are around 73,997 property tax holders and it had estimated to collect around Rs 1000 crore.

For 2021-22, The NMMC expects to collect a whopping Rs 600 crore as property tax