03 January,2025 07:31 AM IST | Mumbai | A Correspondent
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The Brihanmumbai Municipal Corporation collected Rs 5,847.68 crore in property tax till December 2024.The property tax collection target for the current financial year is approximately Rs 6,200 crore, of which 68 per cent has been achieved so far.
According to a BMC official, from April 1, 2024 to December 31, 2024, BMC collected Rs 5,847.68 crore. The BMC collected Rs 433.87 in just the last two days of last year. Property owners paid Rs 173.59 crore on Monday, December 30, 2024, and Rs 260.28 crore on Tuesday, December 31, 2024.
The final deadline for property tax payment for the previous financial year (2023-24) was May 25, 2024. Consequently, an amount of approximately Rs 1,660 crore from the last financial year is included in the current financial year. Due to this, BMC increased the target of property tax collection from Rs 4,187.19 to Rs 6,200 crore.
The final due date for property tax payment for the financial year 2024-25 was December 31, 2024.Now, taxpayers who haven't paid up will be levied a fine of 2 per cent. BMC received Rs 2,501.07 crore in a single month - in December 2024.From the city, BMC collected R1,774.43 crore, from the eastern suburbs R1,091.10 crore and from the western suburbs Rs 2,979.45.
