Maharashtra CM asked to put stay on new property tax system
With the increasing protests from the citizens of Maharashtra against new property tax system, a demand for a stay on the regime has now been made to the state government.
Recently, Brihanmumbai Municipal Corporation (BMC) had introduced the new property tax system in the state, following which many protests were witnessed.
A MP from North Mumbai has asked the state CM to order a stay on the same. In a recent meeting of MPs, it was discussed that the citizens across segments were objecting to the rise in property tax bills under the new regime.
The current tax rate took three years to get finalised by the civic body but has given barely three weeks to respond to the property tax bills of properties in Mumbai.
One of the other MPs in north west Mumbai raised concern over the issue of deemed conveyance for societies. He alleged that there has been widespread corruption in issuance of deemed conveyance.
Also, BMC seemed to have juggled up the guidelines to calculate the new property tax system. The property tax under the capital value-based system has missed out on some key factors to compute the same.
The civic body has not taken into account several factors like leased and freehold land as well as multi-age and multi-type buildings, which affect the amount to be paid as property tax. Different factors have to be assigned to a building on account of age or type of construction while fixing a property’s capital value.
As per the current guidelines, the civic body has included factors like carpet area and the built-up area for each unit of a property, building’s age, type of the construction and so on. But it forgot to take into consideration the fact that a building could be multi-age or have multi-type construction.
Related Real Estate News:
BMC ignored key factors in new property tax system
New BMC property tax system yet to get guidelines
Mumbai suburbs against property tax bills
BMC, BMC Mumbai, BMC property tax, Brihanmumbai Municipal Corporation, capital value-based property tax, ECS form, Mumbai, North Mumbai, Properties in Mumbai, property tax, Property tax bills, rateable value-based system, Residential properties in Mumbai
