Deadline for 95% interest waiver on property tax extended till August 31

Lokmat News Network

Chhatrapati Sambhajinagar

Property owners have got more relief as the Municipal Corporation on Saturday extended the 95% interest waiver on property tax arrears till August 31.

The scheme, originally set to end on August 15, had received an overwhelming response. From August 16, the waiver was to be reduced to 75%. After 2000, such waivers were offered only between 2017 and 2019, but they had failed to draw much participation. For the past five years, no such concession was announced, leading to a sharp rise in arrears. Since the 95% waiver was introduced on July 15, the scheme has seen massive collections. In just one month, 37,259 property holders cleared dues worth Rs 82.57 crore, while another Rs 3.5 crore came through water tax. Together, the civic treasury received Rs 86.07 crore in a single month. Between April 1 and August 15, the corporation collected Rs 146.10 crore in property tax and Rs 11.50 crore through water charges. Officials now expect overall recovery from property and water tax to touch nearly Rs 250 crore this year the highest in the corporation’s history.