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The Nashik Municipal Corporation (NMC) is taking proactive measures to increase its property tax revenue by identifying rented properties in residential areas and levying commercial rates on them. To streamline the process, NMC has shortlisted three private agencies to distribute tax bills and locate rented-out properties. The agencies will start their operations from October 1st, with each handling two of the city's six divisions. The move aims to address the challenge of property owners not informing the civic body about renting out their premises, which has resulted in the city missing out on potential tax revenue.
The Nashik Municipal Corporation (NMC) is taking steps to increase its revenue through property tax. The civic body is planning to identify rented properties in residential areas and plans to levy property tax at commercial rates on such flats or houses. Advertisement
To streamline the property tax collection process, NMC has shortlisted three private agencies after a tender process. These agencies will be responsible for distributing property tax bills to taxpayers and identifying residential properties that have been rented out.
The work orders for the private agencies are expected to be issued soon, and they are expected to start their operations from October 1st. Each agency will be appointed to handle two divisions of the city, as NMC has a total of six divisions.
According to the rules, property tax should be charged at the commercial rate if the residential property is rented out by the owner. However, many property owners do not inform the civic body about renting out their premises.
NMC has a total of 5.75 lakh properties on its records, and it sends annual property tax bills to the taxpayers. However, due to a shortage of manpower, the civic body has faced challenges in distributing the bills on time. Therefore, NMC has decided to outsource this work to the private agencies.
The appointed agencies will visit each property registered with the property tax department to verify if the properties have been rented out. If tenants are found in the residential properties, NMC will levy property tax at the commercial rate, which is expected to help increase the city's revenue from property tax.
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