economy

Pune: Property tax department collects Rs 1,031 crore

Pune: Property tax department collects Rs 1,031 crorePUNE

: The

Pune Municipal Corporation

(

PMC

) has collected Rs 1,031 crore via property tax since the start of the 2018-19 fiscal on April 1, 2018, a statement issued by PMC said on Wednesday.

“The civic administration has started a number of initiatives to increase the revenue of property tax. The drives against illegal properties and against the property owners, who have defaulted on tax payments have been intensified. The confiscation of the properties has been started as a step of tax recovery,” said Vilas Kanade, head of PMC’s property tax department.

As per the PMC officials, the revenue is likely to go up for the next fiscal i.e. 2019-20 as more properties have been added in the PMC limits. PMC has registered over 1.67 lakh properties in the newly merged 11 villages. The number of properties in the municipal limits has crossed the mark of 10 lakh with addition of these properties. The civic body has targeted to earn a revenue of Rs 64 crore by charging property tax on the newly added properties.

PMC had around 8.5 lakh properties before the village merged in municipal limits in 2017. As per the tentative estimates of civic body, more than 60,000 properties are unauthorised.

The property tax collection is based on the annual rateable value (ARV). The civic administration is hoping to earn around Rs 1600 crore from the tax in 2019-20 financial year.


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