No rebate on early property tax payments this year in Mumbai
Jul 23, 2013
Source : The Times of India

 

MUMBAI: Procedural and technical delays have forced the civic body to cancel the proposed property tax rebate on early bill payments for 2013. The Early Bird Incentive Scheme will now be rolled out only for the financial years 2014-15 and 2015-16.

The proposal will be tabled in the civic standing committee on July 24 for approval. The BMC had proposed rebates for three financial years beginning 2012-2% of bill for those paying half-yearly tax by May 31, instead of the July 31-deadline; 3% for those who pay by June 30; and 4% for those who pay the entire amount before the deadline.

“As the BMC extended the due date for payment of property tax bills to September 30, it led to some technical delays. So, we cancelled the scheme for this year and begin it from 2014,” said an official. The initial confusion in understanding the new capital value-based system also affected the BMC’s revenue accrued from property taxes, he added.

Owners of buildings that were constructed post-2010 will have to pay tax with retrospective effect from April 2010 to this year. The final tax for old buildings receiving provisional bills will be adjusted to reflect the outstanding amount. The BMC has issued bills to 2.70 lakh properties for 2013.

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