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The Nashik Municipal Corporation (NMC) has raised INR 27 crore via its amnesty scheme during October and November, attracting around 30,000 property tax defaulters and waiving INR 13 crore in penalties. The total property tax arrears stand at approximately INR 450 crore, with INR 200 crore attributed to penalties. Under the scheme, defaulters can receive up to a 95% penalty waiver if they settle dues by November 30, with further reductions available in December and January. NMC officials expect to recover an additional INR 30 crore as the scheme continues, aiming for a total property tax collection target of INR 250 crore this financial year.
The Nashik Municipal Corporation (NMC) has successfully collected INR 27 crore through its amnesty scheme during October and November this year. This initiative drew in approximately 30,000 property tax defaulters, leading to a waiver of INR 13 crore in penalties on their outstanding dues. The total property tax arrears now amount to around INR 450 crore, which includes INR 200 crore in accumulated penalties. Advertisement
NMC imposes a monthly penalty of 2% on unpaid property taxes, along with additional charges for notices and warrants issued to defaulters. Under the current amnesty scheme, those who settle their dues between October 1 and November 30 can receive up to a 95% waiver on penalties. Payments made in December will qualify for an 85% penalty reduction, while a 75% reduction is available for those paying in January.
NMC officials reported a positive response from defaulters during the first two months of the scheme, which will continue through December and January. NMC anticipates that more defaulters will take advantage of this opportunity, potentially allowing it to recover an additional INR 30 crore from property tax defaulters in the coming months.
In 2021, the civic body launched a similar scheme for two months (October-November), but it garnered limited participation, collecting only INR 14.86 crore from about 17,560 tax defaulters, who received a total penalty rebate of INR 56.33 lakh.
For the current financial year, NMC has set a property tax collection target of INR 250 crore and has already collected over INR 150 crore to date.
The success of NMC's amnesty scheme reflects a proactive approach to addressing property tax arrears and encouraging compliance among defaulters. With significant participation and the potential for further recovery in the coming months, the initiative not only alleviates the financial burden on residents but also bolsters the corporation's revenue collection efforts. As the scheme progresses, it will be crucial for NMC to maintain engagement with defaulters and ensure that the benefits of the amnesty are fully realized, ultimately contributing to the city's financial health and infrastructure development.
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