The Nashik Municipal Corporation (NMC) plans to impose a 2 percent penalty on property owners who fail to settle their biannual property tax obligations for the 2023-24 fiscal year by June 30. The NMC provides discounts to those who promptly pay their taxes, but penalties will be applied to those who do not take advantage of the discount scheme. The NMC encourages property owners to check their outstanding dues and make online payments through their official websites. Additionally, the NMC sends reminders and payment links via SMS and WhatsApp to property tax owners.
The Nashik Municipal Corporation (NMC) is poised to levy a 2 percent penalty on individuals who neglect to settle their biannual property tax obligations for the 2023–24 fiscal year before June 30, according to a municipal official. As an incentive for prompt payment, the NMC extends discounts to property owners.
Those who do not take advantage of the discount scheme will be subject to penalties. At the commencement of each financial year, the NMC issues tax demands that are divided into two sections: the first and second halves. Property owners are required to clear the taxes for the initial six months within a 90-day period. Effectively, June 30 represents the final day for settling the bills generated in April. Failure to remit the taxes by this date will result in a 2 percent penalty being applied to the first instalment amount, explained the official.
The official further stated that the due date for the subsequent six months falls at the end of December. Those who fail to fulfil this obligation will incur a 2 percent fine on the outstanding dues from January 1 onward. Furthermore, individuals who default on their payments in the 2022–23 fiscal year will face a 2 percent compounding interest charge on the outstanding amount, the official added.
For the 2022–23 fiscal year, the NMC collected Rs 187 crore in property tax, surpassing its target of Rs 185 crore. In April, property owners received an 8 percent rebate for promptly settling their property tax dues for the 2023–24 fiscal year. The rebate percentage decreased to 6 percent for dues cleared in May and was further reduced to 3 percent for payments made in June. During April, approximately 1.3 lakh property owners availed themselves of the 8 percent rebate. However, this number dwindled to 29,000 in May. As of June, around 30,000 individuals had taken advantage of the 3 percent discount scheme.
The NMC is urging property owners to settle their dues by referring to the index number, even if they have not received the demand notice. To facilitate this, individuals can access the NMC's official websites, http://nmctax.in/ or http://nmc.gov.in/, to ascertain their outstanding dues and make online payments, the official informed.
To remind property tax owners of their obligations, the NMC has automated the process by sending messages via SMS and WhatsApp to their registered mobile numbers. These messages serve as reminders of the amount due for property tax and also include payment links to facilitate online transactions, the official noted.
In addition to the discounts provided for the payment of property tax dues, the NMC also offers incentives for the installation of solar projects for water heating and power generation, rainwater harvesting, reuse of wastewater, and the establishment of electric vehicle charging stations, promoting sustainable practices within the community.
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