The Pune Municipal Corporation (PMC) in India has successfully generated a significant revenue of Rs 40 crore from property tax bills within a week of their issuance. The PMC has implemented a 40 percent discount on property tax for individuals who occupy their own properties, with the option to pay digitally or in person. While physical bills are yet to be distributed, the PMC has accumulated Rs 92 crore in property taxes through electronic payments. The government has announced that properties registered post-2019 will undergo an assessment and become eligible for the discount from April 1, 2023.
The municipal authorities of Pune city have generated a revenue of Rs 40 crore from property tax bills just one week after their issuance. In light of its approval by the state government, the PMC has implemented a property tax discount of 40 percent for individuals who occupy their own properties. Individuals have the option to fulfil their tax obligations digitally or in person. Bill access online is also available to the owners.
The head of PMC’s property tax department, Ajit Deshmukh, has announced that the delivery of paper bills will commence once the government grants the waiver. The intended schedule for bill distribution by the PMC, originally set for May 17 to 22, has undergone another postponement, with the new timeline now set for the month of June. It is possible for residents to settle their taxes electronically through the use of a property identification code and by accessing digital bills. PMC has taken the initiative to facilitate online bill payments by sending out an SMS to its residents.
Even though physical copies of the bills have not yet been handed out, the local government has still managed to accumulate Rs 92 crore in property taxes as of May 23rd. Deshmukh stated that the use of property numbers for bill payments is resulting in a daily revenue of approximately Rs 7-8 crore.
As per the government's notification, properties that were not eligible for the discount and were registered post-2019 will be subjected to an assessment. They will be able to receive the discount starting on April 1, 2023.
In 2019, the 40 percent tax program was put to an end, and instead the PMC initiated the circulation of bills with a higher tax rate. The property owners were required to settle even the overdue payments from preceding years. Protests erupted as a result of this.
A sum of Rs 7.4 crore was collected as property tax on May 22, 2022. One year later, specifically on May 22nd, 2023, the income amounted to Rs 6.9 crore.
Up to May 23rd, a total of 63,215 individuals who own properties made tax payments. Out of these taxpayers, 12,878 opted to pay using cash, 5,405 used cheques, and a larger proportion of 44,932 taxpayers chose to make their payments online.
PMC authorities have reported that due to the state government's 40 percent exemption offer, modifications were necessitated on 12 lakh property tax invoices. The enormity of this endeavour is contributing to a postponement in the production and digital revisions of fresh invoices, resulting in further elapsed time.
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