Nashik City's local government has achieved a remarkable 25 percent increase in property tax collection, amassing Rs 75 crore in just 75 days. This success can be attributed to the implementation of a rebate scheme that entices taxpayers with incentives ranging from 6 percent to 8 percent. Around 1.7 lakh taxpayers have taken advantage of the rebate scheme, resulting in a rebate amount of Rs 4 crore. With an optimistic goal of reaching Rs 90 crore, the Nashik Municipal Corporation aims to collect an additional Rs 15 crore in the next 15 days.
In an extraordinary achievement, the local administration of Nashik City has triumphantly amassed a staggering sum of Rs 75 crore in property tax within a mere span of 75 days, spanning from April 1 to June 14. This remarkable figure signifies an impressive 25 percent surge compared to the property tax collected during the corresponding period in the previous fiscal year.
The officials from the Nashik Municipal Corporation (NMC) attribute this remarkable upswing in property tax collection to the successful implementation of a rebate scheme specifically designed to reward diligent taxpayers. By offering enticing incentives ranging from 6 percent to 8 percent, the civic body has effectively spurred a greater number of property owners to conscientiously fulfil their tax obligations within the stipulated timeframe.
Buoyed by this resounding success, NMC officials harbour fervent optimism about securing an additional Rs 15 crore within the forthcoming 15 days. If this ambitious target is attained, it will propel the cumulative property tax collection to a remarkable milestone of Rs 90 crore.
An impressive count of approximately 1.7 lakh taxpayers has astutely capitalized on the rebate scheme, promptly settling their annual property taxes and collectively benefiting from a cumulative rebate amounting to a notable sum of Rs 4 crore thus far.
To optimize the collection of property tax during the initial months, the civic body deftly introduced an 8 percent concession for taxpayers who expeditiously cleared their dues in the month of April. A commendable rebate of 6 percent was extended to those who promptly paid in May, while a praiseworthy 3 percent rebate awaited diligent individuals who honoured their financial obligations in June. During the month of April alone, a staggering 1.3 lakh taxpayers availed themselves of this advantageous provision, thereby significantly contributing to a substantial property tax collection amounting to a noteworthy sum of Rs 48 crore. Subsequently, the NMC admirably gathered an additional Rs 27 crore over the ensuing one-and-a-half months.
Originally, the civic body aspired to amass a considerable sum of Rs 150 crore in property tax during the previous fiscal year. However, owing to the revised guidelines outlined by the 15th Finance Commission, the target was recalibrated to an ambitious sum of Rs 185 crore. Meeting this revised objective assumed paramount importance for the civic body as it would ascertain the requisite funding for a myriad of noteworthy projects sanctioned under the aegis of the esteemed 15th Finance Commission.
In a remarkable turn of events, the NMC officials have overcome the long-standing challenge of surpassing the Rs 100 crore milestone in property tax collection. In the fiscal year 2021–22, they achieved an impressive collection of Rs149 crore. To achieve this feat, the civic body adopted a proactive approach. Officials personally visited the residences of prominent property tax defaulters, urging them to settle their dues.
In a unique strategy, they even resorted to drumming outside the homes of defaulters with outstanding amounts exceeding Rs 1 lakh. This unconventional tactic yielded favourable outcomes, enabling the NMC to surpass its property tax collection target. The extraordinary efforts and innovative methods employed by the civic officials have undoubtedly contributed to this outstanding accomplishment.
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