Mumbai News Live Updates: BMC property tax kitty still 45% short of year’s target – Times of India

Daily Mumbai Live Updates

With two months left for the financial year to end, property tax collections in Mumbai by the civic body stand at Rs 3,859 crore.The targeted property tax collection for the year as announced in the civic budget 2022-23 by the BMC chief was Rs 7,000 crore. This means around 55% of the targeted property tax has been collected for the year.However, with the pandemic now having eased, the officials are confident of meeting the collection target, andeven surpassing it.BMC officials said the collection in tax mostly picks pace towards the last two months of the financial yearand so there is no reason to be concerned yet.This year’s property tax collection is also slightly higher than last time when at thesame time the collections stood at Rs. 3,738 crore. In financial year 2021-22 the total collection stood Rs 5,792 crore. This was exceeding its target to recover Rs 5,400 crore and overachieving the same by Rs 392 crore. According to civic data, last financial year the highest recovery of Rs 538 crore was made from K/East which covers Andheri East, Jogeshwari. Stay with TOI for all the latest updates.Read Less