A good news is coming for residents of Mumbai regarding their property tax. Maharashtra Chief Minister Eknath Shinde has directed officials to prepare a proposal for waiving property tax for flat owners residing in areas of up to 500 sq ft.
In January 2022, Uddhav Thackeray, the then chief minister of Maharashtra, also made a similar announcement for waiving property tax for owners of flats measuring up to 500 sq ft.
A similar sop is already being offered to residents of Navi Mumbai, which is a satellite town of Mumbai. The Navi Mumbai Municipal Corporation (NMMC) passed a resolution to that effect in 2019 and sent the proposal to the state government. The state government is expected to take a final call in the next few months – ahead of polls next year.
The Brihanmumbai Municipal Corporation (BMC) collects between Rs 4,000 crore and Rs 5,000 crore in property tax every year and the outstanding amount is usually around Rs 1,500 crore.
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