Nashik Offers 95% Property Tax Penalty Concession until Dec 2024

13 Dec 2024 CW Team

The Nashik Municipal Corporation (NMC) has decided to extend the 95 per cent penalty concession for property tax defaulters until the end of December. For payments due in January next year, an 85 per cent concession will apply.

Originally, the December concession was capped at 85 per cent, but the NMC has raised it to 95 per cent this month. This decision was made following the response observed over the past two months. NMC officials have estimated the total property tax dues at Rs 6 billion, which includes a Rs 2.68 billion penalty on the dues.

NMC imposes a 2 per cent monthly penalty on property tax dues and also recovers expenses for notices and warrants issued to defaulters.

The NMC officials mentioned that the scheme was introduced on October 1 this year, offering a 95 per cent penalty concession for those paying their dues by November 30. So far, the scheme has raised Rs 570 million from property tax defaulters, with around 32,000 defaulters making payments.

In 2021, the civic body had introduced a similar scheme for two months (October-November), but it received a poor response, collecting only Rs140.86 million during that period. For the current financial year, NMC has set a property tax collection target of Rs 2.50 billion for 2024-25.

So far, the civic body has collected over Rs 1.85 billion in property tax this year, compared to Rs 1.35 billion during the same period last financial year.

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