The Nashik Municipal Corporation (NMC) reported that 60% of its property tax revenue, amounting to INR 140 crore so far in the ongoing financial year, was collected through online payments. This marks an increase from the previous year's 50%. The civic body introduced several tax rebates, including a 1% discount for online payments and additional incentives for early annual payments. These measures proved effective, enabling the NMC to collect INR 106 crore in the first quarter alone. With a target of INR 250 crore for the current financial year, NMC remains optimistic about meeting its goal.
The Nashik Municipal Corporation (NMC) has made remarkable strides in property tax collection, achieving a substantial 60% of its revenue through online payments during the current financial year. Out of the total property tax collection of INR 140 crore so far, INR 84 crore was received via digital platforms. This marks a significant increase in online payment adoption compared to the previous financial year, when 50% of the total collection of INR 206 crore was made online. The growing preference for online payments highlights the effectiveness of the civic body's digital initiatives and reflects taxpayers' increasing comfort with cashless transactions.
To further streamline the process and incentivise timely payments, the NMC administration introduced a series of tax rebate schemes. Property owners making payments online receive a standard 1% discount on their tax bills. Additionally, early taxpayers were offered tiered rebates on annual property tax payments. Residents who cleared their dues in April were rewarded with an 8% discount, while those paying in May and June received 6% and 3% rebates, respectively. These well-structured incentives generated a favourable response, enabling the civic body to collect INR 106 crore in the first quarter of the financial year alone.
By the end of September, the NMC had already collected INR 127 crore, exceeding the INR 125 crore collected during the same period in the previous financial year. These robust figures highlight the success of the corporation's innovative strategies in engaging taxpayers and boosting collections. With a property tax collection target of INR 250 crore for the current financial year, the NMC is building on this momentum.
The administration's approach underscores its commitment to modernising financial systems while fostering a culture of accountability and timely payments among property owners. By leveraging digital platforms and designing strategic incentives, the NMC is paving the way for increased efficiency in tax collection, ensuring the funds are utilised effectively for the city's development initiatives.
The Nashik Municipal Corporation's proactive approach to property tax collection, particularly through digital payment incentives and timely rebate schemes, has shown encouraging results. The rise in online transactions from 50% to 60% highlights growing taxpayer adoption of digital platforms. With significant collections already recorded in the first half of the year and a strong push for timely payments, the NMC appears well-positioned to achieve its ambitious INR 250 crore target by the end of the financial year.
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