The Brihanmumbai Municipal Corporation (BMC) has set the due date of paying property tax for the financial year 2023-24 as May 25. Further, the BMC has warned that strict action will be taken against whose who fail to pay their property tax by such deadline. However, the civic body has announced that stringent action shall be taken against person who do not pay property tax on time but did not specify what action it plans to initiate against those who fail to pay within due date.
BMC, which is also known as Municipal Corporation of Greater Mumbai (MCGM), is India’s richest municipal corporation. As per the last budget presented by the BMC, the share of property tax stands around 22% of the total revenue. Unlike other municipal corporations of the country, BMC calculates property tax based on the market value of the property. BMC uses Capital Value System to calculate property tax which in turn based on the market value.
The Brihanmumbai Municipal Corporation (BMC) has dedicated centres for tax assessment and collection. Such departments are also involved in launching various awareness programme for creating awareness about payment of tax within due date to avoid any action. BMC has been conducting various awareness initiatives through various media, social media platforms and other modes. On query, an officer has said that the office of the ward officers, its facilitation centers are kept open on holidays also to ease out the convenience and help property owners to complete payment within due date. As per certain reports, during the last fiscal year i.e. FY 2023-24, the civic body collected property tax of Rs. 3195 crores. In the recent times, the BMC has decided in their meeting to collect double property tax from the shops and establishments which do not have signboards written in Marathi language or Devnagari script.
The Bombay High Court has upheld the Maharashtra government's decision making it mandatory for all shops and establishments in the state to display signboards in Marathi written in the Devanagri script, and rejected a petition challenging the decision with cost. "A Public purpose is sought to be achieved by the said Rule. There is a broader public purpose and rationale.
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