PUNE: The Pune Municipal Corporation (PMC) will start collecting 2 per cent fine on property tax dues from July 1.
“Those people who have kept the payments pending will have to pay the fine. A fine of 2% on the amount of the property tax will be charged,” said a press release issued by PMC.
The municipal corporation has so far collected around Rs 406 crore from property tax since the start of the new financial year from April 1, 2013. Over 4.6 lakh people have paid their property tax during this period.
Property tax is one of the main sources of revenue for PMC. The property tax department handles the billing and collection of property tax on residential, commercial, plots and other types of properties – held privately or by government (state and central) – within the PMC limits.
Property tax is the tax charged on immovable or tangible real property, such as land, buildings and permanent improvements. Based on assessments, all property holders are expected to pay the tax. PMC assesses all residential and commercial properties situated within its limits. Property tax may also include basic house or building tax plus service taxes such as street tax, and conservancy/scavenging tax. It is collected either half yearly or annually. There are around 6 lakh residential properties and 75,000 non-residential properties, in addition to about 24,000 open plots.