CHENNAI: Chennai Corporation's property tax collection for 2013-14 crossed Rs 480 crore, the highest ever, corporation officials said on Tuesday.
However, it still fell short of its Rs 550-crore target by Rs 70 crore. The corporation collected 87% of property tax from the 15 zones. It collected Rs 461 crore (92%) in property tax against a target of Rs 500 crore in 2012-13.
A corporation official said the target wasn't achieved mainly because of the elections. Revenue department officials were engaged in election work and monitoring Amma canteens, he said.
The increased collection is likely to give infrastructure projects a boost. The lion's share was collected from zones including Teynampet , Adyar and Royapuram.
Corporation officials said the number of tax payers increased from 6.5lakh to 10.82 lakh after the expansion of the city. The corporation collected Rs 234 crore in professional tax against a target of 230 crore and Rs 94 lakh in company tax.