Property tax: Chandigarh MC collects ₹42 crore during rebate period

A total of 80,520 assessees from both commercial and residential properties have cleared the tax dues for the current financial year

The Chandigarh municipal corporation collected has ₹42.47 crore as property tax for 2023-24 during the rebate period that ended on Wednesday.

While ₹ 26.89 crore have been collected from 16,185 commercial properties, ₹12.56 crore has come from residential properties, as per Chandigarh municipal corporation. (Getty Images/iStockphoto)

A total of 80,520 assessees from both commercial and residential properties have cleared the tax dues for the current financial year. While ₹ 26.89 crore have been collected from 16,185 commercial properties, ₹12.56 crore has come from residential properties, as per MC.

Also, ₹1.07 crore have been collected from book entries and ₹1.95 crore have been collected as garbage charges.

Major receipts of the current year’s collection are from PGI ( ₹88 lakh), Panjab University ( ₹1 crore) and Chandigarh administration ( ₹1.38 crore).

As the rebate period has ended, a 25% penalty and interest at 12% per annum will now be levied on the due tax from the date of issue of the tax bill to the date of actual payment.

Last year, the civic body had collected around ₹70 crore as property tax.