In a move that would help increase revenue collection for the civic body, the Pune Smart City Development Corporation Ltd (PSCDCL) has proposed consulting experts to identify under-assessed and un-assessed properties and ensure 100 per cent coverage. It is further suggesting ways to shift from annual rateable value (ARV)-based system to capital value-based system for assessing property tax.
The PSCDCL would take up the proposal during its board meeting next week.
The focus of the proposal, the civic administration said, “is to select a consulting agency that will advise PSCDCL or PMC on improving the revenue from property tax by identifying under-assessed and un-assessed properties increasing coverage by 100 per cent.”
The agency would also suggest ways for computerisation of the property tax records and tax management system, display demand collection book on the web, putting in place an online system for assessment and collection of property tax, recommend improvements in the existing administrative system to achieve 100 per cent coverage. “The agency would also be responsible for submitting report on shifting assessment practices from the current ARV based system to a capital value based system for assessment of property tax,” proposal said.
A separate consultant will also be appointed to advise PSCDCL and Pune Municipal Corporation (PMC) on achieving the full potential of advertising revenue by making a policy for “destination specific” potential, including a dynamic “pricing module”.
The agency would have to develop comprehensive advertisement guidelines, advertisement tax and license fee structure with a roadmap for periodic updation, complete computerised database of advertisement records, introduction of new technologies and increase in revenue from advertisement tax, it said.
The PSCDCL has also sought permission to approach another expert agency for advise on developing a Value Capture Fund framework so as to effectively capture the additional land or property value being generated through public investments made as part of the implementation of the smart cities mission.