capital value-based system
Residents of housing societies in Mumbai are planning to stage a dharna and one day hunger strike at Azad Maidan to protest the new property tax system. The major concern of the residents lies with the ground realities which affects a property’s price, are not taken into consideration in the ready-reckoner rates. They claim it [...] Continue Reading »
Unconvinced with the new way of calculating property tax, citizens in Mumbai are planning to move to Bombay High Court regarding the same. The new method is based on the capital value-based system. The major concern of the residents lies with the ground realities which affects a property’s price, are not taken into consideration in [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) is all set to send the final property tax bill in September. The BMC claims that it has completed the billing process and is currently working on the refunds. The civic body is in the process of computerizing the property tax collection system and is planning to use it to [...] Continue Reading »
Under the new capital value-based system property taxes are likely to go up in south Mumbai, while residents in the suburbs may get some relief from the current property tax levels.The new system was announced on 1st April 2010, but has not been enforced as the tax rate has not been fixed yet. The civic [...] Continue Reading »
