Pune civic body decides not to hike property tax for FY 22-23
Real Estate

Pune civic body decides not to hike property tax for FY 22-23

The standing committee of Pune Municipal Corporation (PMC) has decided not to raise the property and entertainment tax for the financial year (FY) 2022-23.

Hemant Rasane, the chairman of the standing committee, told the media that the decision was taken after looking at the income and the possible expenditure of the civic body.

In the next financial year, the property owners within the limits of PMC would not be burdened with an additional tax.

PMC has 12 lakh properties that are liable to pay the property tax.The civic body makes Rs 1,200-1,300 crore each year through it.

The target revenue on the property tax head for FY 2021-22 is nearly Rs 2,000 crore. The new estimated tax target for FY 2022-23 in the civic budget is Rs 2,232 crore.

The standing committee also approved a proposal for two civic hospitals.

The diversion of funds for the Prime Minister housing scheme, which is Pradhan Mantri Awas Yojana (PMAY), was also approved, and nearly Rs 27.68 crore would be diverted.

Image Source

Also read: Nagpur civic body rejects proposal to hike property tax for FY 22-23

The standing committee of Pune Municipal Corporation (PMC) has decided not to raise the property and entertainment tax for the financial year (FY) 2022-23. Hemant Rasane, the chairman of the standing committee, told the media that the decision was taken after looking at the income and the possible expenditure of the civic body. In the next financial year, the property owners within the limits of PMC would not be burdened with an additional tax. PMC has 12 lakh properties that are liable to pay the property tax.The civic body makes Rs 1,200-1,300 crore each year through it. The target revenue on the property tax head for FY 2021-22 is nearly Rs 2,000 crore. The new estimated tax target for FY 2022-23 in the civic budget is Rs 2,232 crore. The standing committee also approved a proposal for two civic hospitals. The diversion of funds for the Prime Minister housing scheme, which is Pradhan Mantri Awas Yojana (PMAY), was also approved, and nearly Rs 27.68 crore would be diverted. Image Source Also read: Nagpur civic body rejects proposal to hike property tax for FY 22-23

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