The BMC is going to miss its property tax target once again, as its new tax regime hasn’t been passed this year as well. The corporation had set a target of collecting Rs 7,000 crore for this financial year (2022-23) in accordance with the implementation of a new tax regime, which was supposed to increase the tax by 14 to 16 per cent. But the hike wasn’t implemented and till October 27, the BMC was only able to collect Rs 904 crore, which is slightly less than the collection of last year on the same date. Last year, till October 27, the civic body had collected Rs 1,053 crore. “At the end of the financial year—March 2022—the BMC collected Rs 5,792 crore. Even this year, the tax regime hasn’t been approved, but we will try to reach as close as possible to the target,” said an official with the BMC.

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