Advertisement

HindustanTimes Thu,25 Dec 2014

Mumbai: Property tax will be revised in 2 yrs

Kunal Purohit, Hindustan Times  Mumbai, February 09, 2013
First Published: 00:36 IST(9/2/2013) | Last Updated: 00:37 IST(9/2/2013)

Be prepared to face another property tax hike in the next two years. The civic body had claimed that under the new property taxation system, taxes would increase once in five years.

Advertisement

But the rate revision will happen in 2015 as the BMC has considered April 2010 as the year in which the new system officially came into effect.

The BMC last year switched from the rateable value system of property tax to the capital value system.

Under the new system, 19% residential properties are facing a two-fold hike in rates.

Those whose taxes haven't increased will also face a hike in 2015. The BMC may also revise its rules.

Rajiv Jalota, additional municipal commissioner, said, “The proposal will be tabled before the standing committee and the corporation for approval."


Advertisement
more from Mumbai

Give certificates to students who complete Class 8, says edu dept

The state school education department has asked city schools to issue a passing certificate to students after completing Class 8. The certificate will be an important document showing that the child has successfully completed elementary education. It should be given within a month of completion.
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved