Despite COVID-19 pandemic, BMC's property tax collection rises by Rs 700 cr in 21-22
Apr 01, 2022
Mumbai (Maharashtra) [India], April 1 : The property tax collection, which is a source of income for the Brihanmumbai Municipal Corporation, has increased by Rs 700 crore this year as compared to the previous financial year.
This is the record tax collection in the history of the corporation till date, Greater Mumbai Municipal Corporation informed in an official statement today.
In particular, from January 1, 2022, residential flats up to 500 square feet in Greater Mumbai have been exempted from full property tax. However, the performance of the tax assessment and collection department has been remarkable in view of the sharp increase in tax collection.
Notably, 3 out of 24 administrative wards have collected more than 30 per cent property tax this year as compared to last year. The G-South ward topped the list with an increase of 34.34 per cent.
