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Friday, January 28, 2022

Maharashtra to waive property tax of properties up to 500 sqft

“The opposition has raised the issue about waiving off the property tax of residential properties of 500 sq ft that includes general tax and other service taxes. The government’s stand is also of the same view. It is under process and the decision will be taken soon,” said Urban Development Minister Eknath Shinde.

By: Express News Service | Mumbai |
December 28, 2021 9:40:56 pm
Shiv sena, Eknath Shinde, Uddhav Thackeray, Sambhaji Patil Nilangekar, Mumbai news, Mumbai confidential, indian express newsUrban Development Minister Eknath Shinde (File)

The Maharashtra government Tuesday said it will completely waive the property tax bills of residential properties measuring up to 500 sqft in Mumbai. The decision was announced during a discussion on the bill to not increase the property taxes for any buildings and plots.

“Only the general tax of the property tax bills were waived and not the entire property tax as promised by the then Shiv Sena chief and Chief Minister Uddhav Thackeray,” said Devendra Fandavis, Leader of Opposition.
“The opposition has raised the issue about waiving off the property tax of residential properties of 500 sq ft that includes general tax and other service taxes. The government’s stand is also of the same view. It is under process and the decision will be taken soon,” said Urban Development Minister Eknath Shinde.

Property tax comprises eight components, including general tax, water tax, sewerage tax, education cess, tree cess and water benefit tax. The general tax constitutes 10 per cent to 30 per cent of the total amount.
The Shiv Sena had received a lot of flak after it only waived off the general tax component and not the entire property tax as promised in its manifesto during the 2017 Mumbai civic polls.

Shinde said during the discussion on the bill to not increase the property taxes for any buildings and land in Mumbai in 2021-22, that the waiver has been brought so that people are not be burdened with the property tax in thewake of the pandemic. In the current financial year, the BMC will incur a revenue loss of Rs 1042 crores, said Shinde.

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