NMC introduces 5% tax rebate on prompt tax payments.

The Nashik Municipal Corporation (NMC) chose to introduce an incentive of up to 5% on the prompt payment of property tax bills for the first quarter of the financial year 2020-21 to collect a maximum property tax. When you pay online, you can get another 1% tax rebate.

Those who pay their annual tax in April will receive 5% tax rebate, while those who pay tax in May and June, will receive 3% and 2% tax rebates. This initiative has been taken by the municipal corporation to encourage people to pay property taxes in the first three months of the financial year.

The property tax concession was revoked by the Municipal Commissioner Tukaram Mundhe, during the last financial year. However, current Municipal Commissioner Radhakrishna Game re-introduced it. 

“If we provide incentives for fast taxpayers, the NMC will raise maximum revenues in the first quarter of the financial year. Now, incentive schemes will take effect since the beginning of the new financial year,” the official of the NMC said.

In 2018-19, a property tax of Rs 112 crore was collected by the civic body. The target for property tax recovery from the NMC had reached Rs 100 crore for the first time. The municipal corporation set a target of Rs 218 crore in 2019-20. The NMC collected a property tax of Rs 137 crore by February 15, compared with Rs 98 crore collected over the same period last fiscal year 2018-19.

The municipal corporation has already planned to sell major defaulters’ properties. At the Dadasaheb Gaikwad auditorium in the city on February 26, properties of 89 tax defaulters will be auctioned in the first phase.

“There are 1.92 lakh tax defaulters with dues varying from Rs 4 000 to Rs 1 lakh. We have sent notices to some 1.80 lakh tax defaulters, asking them to clear their dues immediately,” an official of the NMC said.