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Mumbai: BMC raised just 20 per cent property tax in 2023
Updated On: 03 January, 2024 02:11 AM IST | Mumbai | Prajakta Kasale
A 10-month delay in issuing bills last year wiped out crores from BMC’s earnings, pushing it to desperate measures
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The BMC reversed its decision to hike property tax after citizens objected
While the Brihanmumbai Municipal Corporation’s (BMC) revenue model has taken a hit with the civic body being unable to hike property tax for the last four years, the situation has become worse due to the 10-month delay in issuing bills this year. The delay has resulted in a loss worth crores of rupees which the BMC earns as interest while only 20 per cent of the bill amount was collected till December 31 as compared to the same period last year.
The corporation usually starts issuing property tax bills in April—the first month of the financial year—while it starts action against the defaulters in January. Last year (2022-23), the BMC was able to collect Rs 3,175 crore till December 31 despite a few months delay in issuing the bills. This year only Rs 638 crore was added to the BMC kitty during the same period. The corporation hasn’t handed over tax bills till now and the amount collected is mostly pending tax or disputed tax amounts from earlier years. Now, with the end of the financial year just months away, it will be extremely difficult for the civic body to collect the target amount of Rs 6,000 crore.
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