Mumbai, Apr 1 (PTI) The property tax collected by the Mumbai civic body for the fiscal 2021-22 increased by Rs 700 crore from the previous financial year and touched a record Rs 5,792 crore despite the coronavirus-induced pandemic as well as a tax waiver on homes of up to 500 square feet, an official said on Friday.
A Brihanmumbai Municipal Corporation release said three out of the metropolis’ 24 wards collected 30 per cent more tax than the previous year, while F-South ward, which comprises areas like Parel, Lalbaug, Sewri and Wadala, saw property tax collections rise by 34 per cent when compared to 2020-21.
The collection of F-South ward was the highest among all wards, the release said.
The property tax collected in 2020-21 was 5,091 crore and the figure for 2019-20 was Rs 4,161 crore, it informed.
The waiver on property tax for homes up to 500 square feet in size came into force on January 1, 2022.
With the abolition of octroi some years ago, property tax is one of the BMC’s biggest sources of income, officials pointed out. PTI KK BNM BNM BNM
