NMC drafts immediate payment of property tax in Nashik
In a new move, the Nashik Municipal Corporation (NMC) has decided to start linking property tax on newly constructed houses promptly. The tax would be linked as soon as the building completion certificate (BCC) is issued to the developer.
The move came across as an effort to increase revenue for the NMC by levying house and water taxes.
Currently the NMC does not recover house and water taxes from immediately constructed buildings as they do not get information promptly from the town planning body, NMC’s standing committee chairman, Uddhav Nimse said.
The NMC, which is facing a financial crisis, introduced online payment system for house and water cess but it has not yet been met with expected result, Nimse added.
The NMC officials are hopeful that the new move would lead to meet with the house cess target for the current financial year.
To read more real estate news:
Rationalize property tax system – HPEC
Source: The Times of India
Building Completion Certificate, house tax, Nashik Municipal Corporation, online payment system, property tax, Water Tax
