Rs 8000 crore as pending property tax!
As per latest research report, BMC is yet to recover Rs 8,014 crore as it stands pending from defaulters in Mumbai.
The civic body is set to change the rateable procedure of property tax collection to capital value-based.
But this recovery of such large amount has come as a shock to the corporation.
According to assessment and collection department (ACD), highest tax of Rs 4,301 crore has to be paid from areas like Nariman Point and Churchgate. Defaulters from western suburbs share 33% of the whole amounting to Rs 2,669 crore.
The reason for such high outstanding amount is that the owners are legally contesting tax bills of the last many years.
Source: The Times of India
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