In A 1st, Nmc Collects 23% Property Tax In 3 Months, Real Estate News, ET RealEstate

July 5, 2023

NAGPUR: In a first, property owners in the city demonstrated a remarkable tax compliance as 1.40 lakh individuals collectively paid Rs69.29 crore within just three months of the financial year 2023-24.

“Moreover, 47,757 property owners availed 5% discount by paying the tax online. The property tax department has a target of Rs300 crore for the entire year,” said deputy municipal commissioner (revenue) Milind Meshram.

The city has nearly 6.35 lakh properties, including residential, industrial, non-residential, mixed-use, and vacant land.

Like every year, the civic body offered 10% and 5% rebate on property tax to those paying up before June 30 and December 31, respectively. The assessees got the rebate in the entire property tax component, excluding education cess and employment guarantee scheme cess of the state government.

Apart from 10% rebate on property tax for paying up before June 30, this year the NMC had announced 5% extra for those making online payments. The scheme announced by the former municipal commissioner Radhakrishnan B had received good response from the taxpayers.

As many 47,757 property owners paid Rs27.18 crore tax online and in return received 15% rebate (Rs2.90 crore). Likewise, 93,145 property owners preferred offline payment and availed 10% rebate. The NMC received Rs42.10 crore from them and in turn provided Rs2.10 crore rebate, said Meshram.

A close look at the property tax collection data from 10 zones revealed that highest amount was paid by residents of Laxmi Nagar zone, where the department received Rs10.94 crore, followed by Lakadganj zone (Rs8.80 crore), while Satranjipura zone (Rs2.65 crore) saw lowest turnout of property owners availing the rebate scheme.

Those missed to avail the 10% and 15% rebate in their property tax still have the opportunity to avail 5% rebate if they make the payments before December 31.

  • Published On Jul 5, 2023 at 12:00 PM IST

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