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At the close of the fiscal year, the Brihanmumbai Municipal Corporation (BMC) collected a total of Rs 3196 crores in property tax, missing the targeted revenue of Rs 4,500 crore for the year.Property tax serves as a critical income source for the BMC. Sunil Dhamane, Deputy Commissioner (Assessment and Collection), confirmed the total property tax collection until March 31.Following the issuance of revised demand notices by the Assessment and Collection Department in February 2024, citizens were consistently urged to settle their property tax dues within the designated timeframe.On March 19, 2024, BMC collected Rs 100 crore, followed by Rs 304 crore on March 28, Rs 171 crore on March 29, Rs 171 crore on March 30, and Rs 190.34 crores on March 31, 2024. Notably, the 'H East' department saw property tax collections of Rs 336.45 crores, 'K East' department collected Rs 317.48 crores, and 'G South' department collected Rs 257.11 crores. The western suburbs recorded the highest collection at Rs 1,590.09 crores, followed by Rs 917.05 crores in the city and Rs 678.42 crores in the eastern suburbs.Currently, the Brihanmumbai Municipal Corporation oversees a total of 9,55,038 properties. Among these, 5,00,386 properties with an area exceeding 500 square feet (46.45 square meters) have been served notices for property tax. The number of such properties amounts to 3,56,652. Financial Year (2023-2024) Property Tax Collection from WardsA Ward - Rs 153.01 croresB Ward - Rs 22.33 croresC Ward- Rs 41.93 croresD Ward- Rs 114.41 croresE Ward- Rs 69.46 croresF South Ward- Rs 57.85 croresF North Ward- Rs 69.23 croresG South Ward- Rs 257.11 croresG North Ward- Rs 131.72 croresH East Ward- Rs 336.45 croresH West Ward- Rs 185.53 croresK East Ward- Rs 317.48 croresK West Ward- Rs 238.28 croresP South Ward- Rs 167.21 croresP North Ward- Rs 115.03 croresR South Ward- Rs 85.74 croresR Central Ward- Rs 105.07 croresR North Ward- Rs 39.30 croresL Ward- 139.34 CroresM East Ward-55.8 croresM West Ward- 73 CroresN Ward- 103.8 CroresS Ward- 226. 22 Crores

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Property tax collection, Latest News

Maharashtra :Property Tax Collection: BMC Falls Short of 4,500 Crore Target, Collects 3,196 cr

At the close of the fiscal year, the Brihanmumbai Municipal Corporation (BMC) collected a total of Rs 3196 crores ... ...