Again, TMC misses property tax target
May 02, 2014
Source : The Times of India
THANE: The Thane Municipal Corporation (TMC) has marginally missed its property tax target for the 2013-14 fiscal like it has for the last two to three years unlike in the past. Recovering Rs 236.81 crore of property tax as against the set target of Rs 284.24 crore, the TMC has managed to maintain its track record, said a senior civic official.

In 2012-13, the TMC collected Rs 246.63 crore of property taxes against the target of Rs 258.63 crore. In 2011-12, it collected over Rs 220 crore against Rs 250 crore target.

Currently, property tax in TMC jurisdiction is determined on the basis of ratable value or rental value of the property. However, the TMC had proposed property tax on residential, commercial and industrial property on the basis of their capital value or market values as indicated in the ready reckoner. But the proposal was rejected.

While TMC's argument is that having a new tax structure (market-related property tax) will help in raising of funds, residents argue that it would be unjust to those staying in old buildings. "It is unfair to have equal tax for those living in new construction and old building structures," said a resident from Anand Ashram in Thane.

Meanwhile, the TMC is also gearing up its machinery to recover unpaid property tax dues from closed mill owners or management, collapsed buildings and merged villages. "The defaulter tax from these entire sectors must be over Rs 100 crore," remarked a civic official. For instance, over two decades ago, several villages like Kausa Mumbra, Diva and Shil Phata were merged with the TMC, but the villagers till date refuse to pay tax to the civic body. Similarly, over one and half dozen mills that have closed down in the past have not paid dues to the TMC.



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