Mumbai’s property tax will not increase this financial year in view of Covid pandemic

By, Mumbai
Nov 06, 2020 12:22 AM IST

There will be no hike in property tax in Mumbai this financial year in view of the Covid-19 pandemic. The state cabinet on Thursday decided to not go for property-value assessment in the city. In turn, there will be no revision in property tax during the ongoing financial year. A hike of around 17% in the property tax was expected this year. The cabinet also gave its nod to promulgate an ordinance to amend the existing law.

HT Image
HT Image

The civic body assesses value of properties every five years to charge property tax to citizens. The tax is being charged on capital value of the property and is based on the existing ready reckoner rates, an official said.

“People are badly affected by the Covid-19 lockdown. The assessment of property tax was expected to be conducted in 2020-21. In order to provide relief, the state has decided to postpone it for a year till 2021-22,” said Mahesh Pathak, principal secretary, urban development department.


    Faisal is with the political team and covers state administration and state politics. He also covers NCP.

Story Saved
Live Score
Saved Articles
My Reads
My Offers
Sign out
New Delhi 0C
Friday, September 22, 2023
Start 14 Days Free Trial Subscribe Now
Register Free and get Exciting Deals