13 per cent hike in property taxes by Nagpur Municipal Corporation (NMC)
property taxes by (NMC)
According to reports, recently, the NMC (Nagpur Municipal Corporation) has hiked the property taxes by 13 per cent for current fiscal. And it is expected that people in this region will witness the more hike in the second demand note with the time of implementation of new tax system.
It was big surprise for all taxpayers because the amount of tax has been increased by 10 per cent which is much more than expected. Recently, the civic body of Nagpur had taken two decisions, which is related to property taxes. One was to implement a new tax system for property under which tax is expected to rise by almost two times and the other is to introduce four new taxes with the hike of 4 per cent. However; the tax was rise by the 3 per cent after the implementation of four new different taxes. Whereas; in the first demand note, the Nagpur Municipal Corporation introduced four new taxes and scrapped one old tax system, which means tax was supposed to increased by 3 per cent, but tax increased by 13 per cent, which includes 10 per cent rise in general tax and 3 per cent rise in new tax.
The Nagpur Municipal Corporation (NMC) officials stated to TOI, that this new revaluation of existing properties is about to start with an aim to implement new tax system. The more they added that on demand notes it will be issued later that in current fiscal year we are asking the taxpayers to deposit more amount than previous under the new property tax system. Girish Deshmukh, who is the Chairman of tax consultative committee, stated that this new tax system will be good for taxpayers because the major beneficiaries will be them as they are used to rent the properties. With this new tax system, the property taxes for rented property will come down till to a great extent. The more he added that the tax amount of other properties will get the increase but it will be not more than two times. According to Deshmukh, it is the major step for the convenience of taxpayers and directives have been issued to make sure that mutation of all property taxes should be completed within seven days, however; for the assessment of new properties they have just 15 days.
As per the statement of Deshmukh, there will be the special camps for the assessment of new cases and disposing of mutation and these camps will be in all ten zones. Till now they have received 283 for new assessment and 356 applications for mutation, out of which 164 applications for new assessment and 134 applications for mutation disposed of in camps itself, and they have generated the revenues of Rs 32.54 lakh on that day.
