Assessment for properties in Nagpur will be completed in six months
The Nagpur Municipal Corporation (NMC) has planned to fast track the re-valuation and assessment work of properties in Nagpur for tax purposes pending for last many years. This delay is causing lot of inconvenience to the citizens and also losses to NMC.
The department is waiting to finalize the decision on property tax based on ready reckoner rate. It is reported that there were over 70,000 new properties awaiting assessment. The Municipality is also planning to go for computerization of property tax department.
There are around 5.50 lakh properties in the city. Their revaluation has to be undertaken every five years.
Process was started in 1998 and then again in 2008 but never completed. Revaluation of only 25-30% of properties was done in 2008 when rate-based property tax was implemented.
Citizens whose properties were reevaluated are paying higher tax while others are paying very low tax. Now revaluation will be completed in six months, so that there will be no discrepancy in the tax payment amount among the residents.
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Source: Times of India
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