Property tax collections exceed target by 51 cr,octroi by 72 cr

The BMCs octroi and property tax departments,the key money-spinners in the countrys richest municipal corporation,closed the year by exceeding their collection targets...

The BMCs octroi and property tax departments,the key money-spinners in the countrys richest municipal corporation,closed the year by exceeding their collection targets,after a nervous last month when both had feared they might fall short.

The octroi department exceeded its target by Rs 72 crore,collecting Rs 4,522 crore against Rs 4,450 crore,while property tax collections were Rs 51 crore higher than the targeted Rs 2,609 crore (revised from Rs 2,450 crore). The department was later asked,verbally,to aim for Rs 2,877 crore,but it was happy with the Rs 2,660 crore collected.

The target was revised to Rs 2,609 crore but we have achieved Rs 51 crore above that, said N A Pathan,the BMCs chief assessor and collector.

Its a great day for us as we have not only achieved the set targets but exceeded them in these doubtful times, said Pathan.Days ago,both departments had been staring at huge deficits. We tightened vigilance across all nakas so that not a single cargo vehicle left without paying octroi, Pathan said.

Pending payments from oil companies over the last month,which was expected to yield over Rs 125 crore,however,fell short,bringing in only Rs 98 crore.

Octroi,property tax and collections from development charges levied on builders together account for the largest revenue receipts in the BMC budget. However,the octroi department,the top earning department over the years,saw a negative growth following fluctuation in crude oil rates and reduction in import of foreign goods.

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