Early bird scheme for property tax gets BMC Rs 146 cr in a monthhttps://indianexpress.com/article/cities/mumbai/early-bird-scheme-for-property-tax-gets-bmc-rs-146-cr-in-a-month/

Early bird scheme for property tax gets BMC Rs 146 cr in a month

The early bird scheme included a 2% rebate for paying the half-yearly amount by June 30 and a 4% tax rebate for the second installment.

Citizens can still benefit from the scheme which continues till July 31.
Citizens can still benefit from the scheme which continues till July 31.

Within a month of rolling out the early-bird incentive scheme for prompt property tax payment in the city, the Brihanmumbai Municipal Corporation’s (BMC) assessment and collection department has received tax payments close to Rs 146 crore from citizens across Mumbai.

“We started the scheme in the first week of June and began receiving payments immediately. By June 30, we received payments from close to 47,000 people in the city. This met our target, as we had expected around 50,000 people to avail the benefits of this scheme in the first month,” said a senior civic official from the assessment and collection department.
Under the early bird incentive, the civic body offered a six per cent tax rebate to taxpayers who paid the annual tax amount in full by June 30.

This included a two per cent rebate for paying the half-yearly amount (April to September) by this time, and a four per cent tax rebate for also paying the second installment (October to March) by June 30.

“We gave a tax rebate of close to Rs 3 crores to the citizens who paid by June 30. Only those who do not have any outstanding dues are eligible for the rebate. If the tax payers clear their dues and the current bill payments, along with any arrears, by the stated deadline, they will still be eligible for the tax rebate,” the senior civic official added.

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Citizens can still benefit from the scheme which continues till July 31.

Those who pay their property tax bill by the end of July are now eligible for a three per cent rebate, while those who pay the half-yearly amount by the end of July will receive a one per cent rebate.

The scheme was implemented in the financial year 2013-14, though it was passed by the civic body’s standing committee in 2012. It has been implemented on a trial basis for the next two years.

Property tax collections are one of the main sources of revenue income for the civic body, with Rs.2259.66 crore revenue expected in 2014 through property tax.