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Wednesday, December 01, 2021

No property tax hike for Mumbai buildings and land in 2021-22

The BMC will incur revenue loss of Rs 1,042 crore and as per the decision, the BMC had received representations from various stakeholders about waiver or concessions amid the pandemic.              

| Mumbai |
October 28, 2021 3:01:21 am
property tax, tax, Mumbai, Mumbai news, Covid-19, Covid, pandemic, Urban Development, MaharashtraOfficials from the Urban Development Department said that this means people will pay the same property tax for any building or land as they were paying in 2021-20. (Representational)

The Maharashtra cabinet on Wednesday decided to not increase property tax for buildings and land in Mumbai for the year 2021-22 in wake of the Covid-19 pandemic. The state government, which had taken the same decision last year, has extended it by one year.

Officials from the Urban Development Department said that this means people will pay the same property tax for any building or land as they were paying in 2021-20. “The same decision was taken in November 2020 and it has now been extended by another one year,” said an official, adding that the government will promulgate an ordinance to this effect.

Due to this decision, the BMC will incur revenue loss of Rs 1,042 crore. As per the cabinet decision, the BMC had received representations from various stakeholders about waiver or concessions amid the pandemic.

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