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Mumbai: BMC decides not to revise property tax
Updated On: 03 August, 2024 05:47 AM IST | Mumbai | A Correspondent
As per guidelines BMC was to revise property tax in 2020-21, but it has decided to revise the tax in 2025-26
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Property tax in Mumbai has not been hiked since 2020-21. File pic
The Brihanmumbai Municipal Corporation (BMC) has decided not to raise property tax for the year 2024-25. Property owners in Mumbai will continue to pay tax as per the rate revision that was made in the year 2015-16. As per the property tax guidelines, the civic body is empowered to revise tax every five years, officials said. However, in 2020-21, five years after the previous tax revision, BMC didn’t raise the property tax owing to the pandemic.
For the following financial year 2021-2022, the civic standing committee rejected the administration’s proposal of a hike in property tax. Since then the state government has denied BMC the permission to hike property tax, an official said. As the civic House of elected representatives has been dissolved, the BMC administration has to seek permission from state government for permissions regarding tax hikes.
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