NMC statistics forty% boom in belongings tax collection

Nashik: Property tax collection of Nashik Municipal Corporation (NMC) has elevated forty% inside the first six months of the modern-day economy compared to the corresponding duration within the final economic yr. NMC officials said the boom in assets tax systems brought about an upward push in the collection of NMC.
NMC’s assets tax series stood at Rs seventy-eight. 39 crores in the first half of the modern-day financial compared to a collection of Rs fifty-five .42 crore throughout the corresponding period in 2017-18. NMC administration hiked belongings tax quotes inside the variety of 37% to 40% and started enforcing it from the modern-day monetary 12 months.

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The assets tax department allotted the belongings tax payments to taxpayers by way of May cease. The upward push of forty% in belongings tax collection is because of this, sources stated.
“Our major awareness is on property tax series. We have already commenced taking action in opposition to defaulters, who did now not pay the tax in the remaining financial. We will take motion in opposition to defaulters this 12 months too,” a legit said.

NMC’s belongings tax series for the primary time had touched Rs ninety crore over the past economic 2017-18 after action changed into taken against defaulters. In 2016-17, NMC had an amassed revenue of Rs 85.75 crore through assets taxes, in opposition to Rs 82.Ninety-nine crores in the course of 2015-sixteen.
NMC has set a belongings tax collection goal of Rs 253 crore for the modern-day economic 12 months 2018-19. The civic administration is optimistic that the target could be performed.
Earlier, NMC could give incentives from 2% to five% to belongings taxpayers if they paid taxes employing the first region, with the aid of June 30. Earlier, spark off taxpayers could get a 5% concession if they paid assets tax in April, three% if paid in May, and a couple of of% if paid in June. The civic management canceled that incentive at the ground that it changed into taxpayers’ obligation to pay up; there was no want for an incentive.

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NMC management has hiked assets tax fees within the variety from 37% to forty% and has started out imposing from the modern monetary 12 months. The assets tax branch had additionally allotted the property tax bills to taxpayers by using May stop. Due to this, the upward push of 40% in belongings tax series is stated assets from NMC. “Our fundamental focus is on assets tax series. We have already commenced the action against the defaulters, who defaulted assets tax payment all through final financial. We will take motion towards the defaulters this year too,” said an official.

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